Coca-Cola Exec VP & CMO Marcos De Quinto Leaving Amidst Leadership Overhaul
Coca-Cola Global Exec VP & CMO MARCOS DE QUINTO, who "led a significant marketing overhaul of the company's flagship soda brand with the 15-month old 'Taste the Feeling' campaign, is leaving the company as the beverage giant overhauls its marketing leadership structure under its new CEO," according to E.J. Schultz of AD AGE. The structure changes include "consolidating marketing, customer and commercial leadership strategy into one combined function," led by President & COO JAMES QUINCEY. Quincey will assume the CEO role May 1, replacing the retiring MUHTAR KENT in a "succession plan that was announced late last year." The chief growth officer role will be filled by Coca-Cola Mexico President FRANCISCO CRESPO. The leadership changes mean that Coca-Cola will "not have a global CMO" role for the first time since the company created it in '93 (ADAGE.com, 3/23). Coca-Cola VP/Research & Development ROBERT LONG will become Chief Innovation Officer. This move is part of Coca-Cola’s "increased focus on accelerating the growth of its consumer-centric brand portfolio with hundreds of new products and continued innovation in beverages, packaging, ingredients and other areas of the business around the world" (BIZJOURNALS.com, 3/23).