Published Date : Dec 10, 2015
The Coca-Cola Company has appointed Hendrik Steckhan to oversee the U.S operations of the beverage giant. As stated by a Wall Street Journal that was released earlier in the week, until recently the 53-year old executive was serving as the president of the carbonated beverages unit of Coca-Cola in North America. He also served as the head of Coca-Cola’s business in Germany from 2010 to 2014. As a change of duties, Steckhan will be reporting the North American chief of the company, Sandy Douglas.
In addition, Ivan Pollard and Stuart Kronauge were appointed as the co-heads of marketing in the U.S. These two gentlemen will be taking over the responsibilities of the former marketing chief in North America, Wendy Clark, who resigned from services last month.
In North America, Coca-Cola’s business exhibited improved sales performance in 2015 that was supported by higher prices and improved volumes due to the support of its advertising investments of disciplined quality.
As reported in October 2015, the North America segment of Coca-Cola registered a revenue growth of 1% on a year-on-year basis in the third quarter of 2015, despite currency headwinds and bleak impact of structural changes. The volume sales of the beverage giant grew by 1%; the improvement in still beverages was balanced by declining sales of sparkling sodas.
In order to boost the long-term sales and profits of the beverage in Coca-Cola in North America, the company is pursuing to develop newer revenue platforms. Earlier in June this year, Coca-Cola acquired a stake in Monster Beverage Corporation and signed a deal to facilitate distribution of Monster products into other territories. This will enable Coca-Cola to be in the competition more effectively in the global energy category.
Quite similar to the Monster deal, earlier in 2014/ 2015 Coca-Cola acquired a 17% stake in Keurig Green Mountain Inc.