8-KLeadership ChangesExhibits & Filings

COCA COLA CO 8-K Report, Executive Changes (Jun 10, 2009)

Filed June 10, 2009For Securities:KO

Summary

This 8-K filing from The Coca-Cola Company details a significant organizational restructuring and changes in key financial leadership positions. Effective July 1, 2009, Harry L. Anderson, currently Vice President and Controller, will assume leadership of a new Global Business and Technology Services function. This new unit consolidates Global Business Services, Global Information Technology, and Transformational Productivity, underscoring the company's continued focus on productivity and transformation initiatives. These changes are aimed at streamlining operations and enhancing efficiency across critical business and technology areas. Furthermore, the filing indicates a planned transition for the Controller role. Mr. Anderson will continue in his current capacity until a successor is appointed, with the Board of Directors expected to consider candidates in July 2009. Management intends to nominate Kathy N. Waller, currently Vice President and Chief of Internal Audit, for the Controller position, with an effective date of August 1, 2009. Investors should view these moves as an effort to strengthen operational efficiency and financial oversight within the company.

Key Highlights

  • 1Coca-Cola is creating a new Global Business and Technology Services function to integrate Global Business Services, Global Information Technology, and Transformational Productivity.
  • 2Harry L. Anderson, VP and Controller, will lead the new Global Business and Technology Services function starting July 1, 2009.
  • 3The creation of this new function supports the company's ongoing productivity and transformation initiatives.
  • 4A leadership transition is planned for the Controller position.
  • 5Harry L. Anderson will continue as Controller until a successor is appointed.
  • 6Management plans to nominate Kathy N. Waller, VP and Chief of Internal Audit, as the next Controller, effective August 1, 2009.
  • 7The company's Board of Directors is expected to consider the successor at its July 2009 meeting.

Frequently Asked Questions

The new Global Business and Technology Services function is being created to integrate Global Business Services, Global Information Technology, and Transformational Productivity. This is part of Coca-Cola's ongoing efforts to improve productivity and drive transformation across the company.

Management intends to recommend Kathy N. Waller, the current Vice President and Chief of Internal Audit, to become the next Controller. This change is expected to be effective August 1, 2009, pending Board approval.

No, Harry L. Anderson is not leaving the company. He will transition from his role as Vice President and Controller to lead the newly formed Global Business and Technology Services function, while continuing as Controller until his successor is in place.

The Board of Directors is expected to consider the election of a successor for the Controller position at its regularly scheduled meeting in July 2009.