Dive Brief:
- Coca-Cola Co.'s board of directors shook up executive management roles today, promoting two within the board and electing two new vice presidents.
- Coca-Cola also reported a regular quarterly dividend of $0.33 per common share, which is payable on July 1 to shareholders on record as of June 15.
- This quarterly dividend rose 8% after the board approved the company’s 53rd consecutive annual dividend increase, which is now $1.32 per share, up from $1.22 per share in 2014.
Dive Insight:
This announcement may have been big for the board, particularly those who received promotions and new appointments, but it couldn't have been nearly as fun as Warren Buffett's ukulele serenade at Coca-Cola's annual meeting earlier this week.
J. Alexander “Sandy” Douglas Jr., currently senior vice president and president, Coca-Cola North America, has been promoted to executive vice president. Dr. Ed Hays, currently vice president and CTO, has been promoted to senior vice president. The company's two new vice presidents are Julie Hamilton, chief customer and commercial leadership officer, and Kelly Johnstone, global operations director, strategic security. All appointments are effective immediately.