Since becoming CEO in July 2008, Muhtar Kent has achieved a long list of strategic accomplishments to drive The Coca-Cola Company’s growth around the world. Highlights include:
Creating a long-term plan to refocus the company on its core business model of building strong brands, enhancing customer value and leading a strong, dedicated global franchise system. Through an accelerated bottler refranchising initiative, The Coca-Cola Company will move from owning about 18 percent of the volume produced in global bottling operations at the end of 2015 to approximately 3 percent when this transformation is complete. Kent has been the guiding force behind Coca-Cola’s global system evolution, taking bold action to refranchise territories across North America, Germany, China and Africa to strong and capable bottling partners.
Making disciplined investments across an increasingly diverse beverage portfolio with the introduction of approximately 1,000 new products. The number of products marketed by The Coca-Cola Company globally has grown from more than 2,800 in 2007 to nearly 3,900 today. The company also has added nine brands to its roster of brands exceeding $1 billion in annual retail sales during this period.
Leading a shift in focus toward growing revenue ahead of volume in developed markets and a more balanced approach between volume and revenue in developing and emerging markets. Under Kent's leadership, the company has grown its share of total dollars spent in the nonalcoholic ready-to-drink beverage industry (or value share) for 39 consecutive quarters.
Investing in markets around the world for long-term growth. Since 2010, The Coca-Cola Company and its bottling partners have invested more than $75 billion for growth in local markets around the world. In Africa, the Coca-Cola system has earmarked $17 billion in investments from 2010-2020, in China, $4 billion from 2015-2017, in India, $5 billion from 2012-2020, and many more.
Embracing productivity as a business strategy and competitive advantage. Through productivity and reinvestment programs launched since 2008, the company is on track to achieve almost $5 billion in annual savings by 2019.
Delivering increased value to shareowners. Since July 1, 2008, the company has grown shareowner value by more than $100 billion with continued annual increases in dividends and growth in the company’s share price. Over that same time, the company delivered a double-digit annualized total shareowner return. In 2012, the company also executed a two-for-one stock split to shareowners – the first in 16 years.
Building a strong management development pipeline and a world-class leadership team, including the selection of James Quincey as the company’s president and Chief Operating Officer and next CEO.
Championing diversity and workplace inclusion with a particular focus on women in leadership. Under Kent's leadership, the number of women in senior leadership roles within The Coca-Cola Company has increased from 23% in 2008 to 31.6% today.
Stepping up the company’s progress on social and environmental issues, including spearheading the launch of the 5by20 initiative to support the economic empowerment of 5 million women entrepreneurs globally by 2020 and leading The Coca-Cola Company to become the first Fortune 500 company to publicly announce that it is replenishing 100% of its global water use.
More on Journey
- The Difference a Day (or Two) Can Make: The Ins and Outs of Coke’s Financial Reporting Calendar
- Half of Coca-Cola Sales in UK Grocery and Convenience Stores Coming From No-Sugar Options
- More Than 3 Million Liters of Water Delivered to Support Peru Flood Victims
- Coca-Cola North America is Bringing the Bubbly with Two Big Water Brands
- Our Company