Henrique Braun to become the next CEO of The Coca-Cola Company.
Courtesy: The Coca-Cola Company
Coca-Cola Chief Operating Officer Henrique Braun will succeed James Quincey as CEO next year, the company said Wednesday, as Coke and its rivals navigate tepid consumer demand for soft drinks.
The change will take effect on March 31, Coca-Cola said. Quincey will stay on with the company as executive chairman of its board.
Quincey, 60, has held the top job at the beverage giant since 2017. During that time, he oversaw the refranchising of Coke’s bottling system, the company’s strategy through the Covid pandemic and its focus on beverages perceived as healthier.
Braun, 57, has held various roles at Coke since joining the company in 1996. He became COO at the beginning of the year.
In a release, Coca-Cola said Braun will focus on identifying new growth opportunities around the world, better filling consumer needs and improving the company’s technology.
James Quincey, Coca-Cola CEO, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025.
Gerry Miller | CNBC
The leadership change comes as the beverage company tries to reverse slower demand for its sodas. In Coke’s third-quarter, global unit case volume — which strips out pricing and foreign currency changes — rose 1% after falling in the previous three-month period.
Quincey has said lower-income consumers have bought fewer of its drinks, and the company has rolled out cheaper and smaller versions of its products to try to reverse the trend. But Coke’s pricier water, coffee and tea brands have performed better than its soft drink segment in recent quarters.
Coca-Cola has also largely outperformed rival Pepsico during Quincey’s tenure, in part due to its stronger out-of-home business in venues like restaurants and movie theaters.
Coke’s stock has outperformed Pepsi’s in recent years.
Coke shares were largely unchanged in extended trading Wednesday. The company’s stock has climbed nearly 13% this year.
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