8-KLeadership ChangesExhibits & Filings

COCA COLA CO 8-K Report, Executive Changes (Feb 21, 2014)

Filed February 21, 2014For Securities:KO

Summary

This 8-K filing from The Coca-Cola Company announces significant changes in its leadership structure, which are important for investors to note. Specifically, the report details the upcoming retirement of its Executive Vice President and Chief Financial Officer, Gary Fayard, who is expected to retire in May 2014. In a proactive move, the company has announced that Kathy Waller, currently Vice President, Finance and Controller, will succeed Mr. Fayard as CFO. This transition is set to be formally approved at the company's April Board meeting. Furthermore, the filing also discloses the decision of two long-standing directors, Donald F. McHenry and Jacob Wallenberg, not to seek re-election at the upcoming 2014 Annual Shareowner Meeting scheduled for April. Both directors will continue their service and committee roles until that meeting. These changes in key financial leadership and board composition may signal shifts in strategic direction or operational focus, warranting investor attention.

Key Highlights

  • 1Gary Fayard, Executive Vice President and Chief Financial Officer, announced his retirement effective May 2014.
  • 2Kathy Waller, currently Vice President, Finance and Controller, will succeed Gary Fayard as Chief Financial Officer.
  • 3Kathy Waller's appointment as CFO is subject to election at the April Board meeting.
  • 4Directors Donald F. McHenry and Jacob Wallenberg will not stand for re-election at the 2014 Annual Shareowner Meeting.
  • 5Messrs. McHenry and Wallenberg will continue to serve on the Board and its committees until the April 2014 Annual Meeting.
  • 6The company attached press releases detailing these executive and director changes as exhibits.

Frequently Asked Questions

Gary Fayard is expected to retire in May 2014.

Kathy Waller, who currently serves as Vice President, Finance and Controller, will succeed Gary Fayard as Chief Financial Officer. Her appointment will be formally approved at the April Board meeting.

The filing states that they each provided notice of their intention not to stand for re-election. The specific reasons behind their decisions are not detailed in this 8-K report.

No, Messrs. McHenry and Wallenberg will remain on the Board and maintain their committee memberships only until the 2014 Annual Shareowner Meeting in April 2014. After that meeting, they will no longer serve as directors.