Dive Brief:
- Coca-Cola’s head of its North America business, Jennifer Mann, will step down on Aug. 1. Mann, who has been in the role for nearly four years, will stay with the company through April 2027 as a senior advisor.
- John Murphy, Coca-Cola’s chief financial officer, will lead the segment on an interim basis. The Sprite and Topo Chico maker said it will seek a permanent replacement for North America, its largest region.
- The departure comes nearly three months after Henrique Braun took over the role as CEO of Atlanta-based Coca-Cola.
Dive Insight:
Mann joined Cola-Cola in 1997 and has held several roles of increasing responsibility, including as chief of staff for former CEO James Quincey. While the company did not outline the reason for her departure, Mann’s lengthy transition period indicates it’s possible she’s choosing to retire or that Braun wants to handpick an executive to lead the important region.
Since Braun was named to the top post earlier this year, Coca-Cola named its first chief digital officer and appointed a new chief people officer.
“I am grateful to Jennifer for her tremendous contributions to The Coca-Cola Company as an operator and leader,” Braun said in a statement. “Her people-first legacy remains in the many high-performing teams she’s led across the Coca‑Cola business.”
Last year, Coca-Cola said organic revenues for North America rose 4%, with changes in price and product mix fueling those gains.
One challenge remains in energy drink BodyArmor, which Coca-Cola paid $5.6 billion to purchase the remaining 85% of the brand it didn’t own in 2021. 1.In February, it wrote down the value of BodyArmor by $960 million, following a $760 million write-down in 2024, amid a slowing growth rate and intensifying competition in hydration drinks.
During its most recent quarter, Coca-Cola posted a 12% jump in revenue to $12.5 billion, led by an 8% increase in concentrate sales and a 2% hike in price and mix, as the beverage maker managed to withstand some of the headwinds impacting the broader economy. The beverage giant is calling for an organic revenue growth outlook of 4% to 5% in 2026.
