The Coca-Cola Company Elects Three Officers and Declares Quarterly Dividend

Rhea-AI Summary

The Coca-Cola Company (NYSE: KO) announced the election of three new corporate officers and declared a quarterly dividend of 44 cents per common share, payable on December 15, 2022, to shareholders on record as of December 1, 2022.

The new officers include Felix Poh (VP of Strategy and Corporate Development), Neeraj Tolmare (Global CIO), and Mark Westfall (Chief Services Officer), effective immediately. Their leadership is expected to enhance strategic capabilities and digital innovation within the company.

Positive

• Declared a quarterly dividend of 44 cents per share, providing income for shareholders.
• Election of experienced officers may strengthen strategic and technological initiatives.

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- The Board of Directors of The Coca-Cola Company today announced the election of three new corporate officers, along with declaring the company’s regularly quarterly dividend.

The company declared a dividend of 44 cents per common share. The dividend is payable Dec. 15, 2022, to shareowners of record of the company as of the close of business on Dec. 1, 2022.

New corporate officers

• Felix Poh has been elected vice president. He oversees strategy and corporate development. Poh, who joined the company in January, came to Coca-Cola after an extensive career with McKinsey & Co., which included global projects on behalf of Coca-Cola in China, Japan and many other countries.
• Neeraj Tolmare has been elected vice president. He is global chief information officer and oversees the company’s information, data and digital organizations, closely partnering with Platform Services. Tolmare joined the company in 2018 as global head of Digital & Innovation. His career includes prior executive roles at HP Inc., Cisco Systems, Palm Inc. and Infosys Consulting leading digital, commerce and technology organizations.
• Mark Westfall has been elected vice president. He is chief services officer, also within Platform Services. He oversees a global organization that provides support for finance; procurement; supply chain and technical; marketing and public affairs, communications and sustainability; human resources; workplace; security; value delivery; and legal. He previously served as chief procurement officer and has been with Coca-Cola since 2009. Previously, he worked for Anheuser-Busch and Ernst & Young.

All three leaders started their current positions Oct. 1, and their elections as corporate officers are effective immediately. All report to John Murphy, the company’s president and chief financial officer.

About The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our hydration, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka. Our nutrition, juice, dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221019005986/en/

Investors and Analysts: Tim Leveridge, koinvestorrelations@coca-cola.com

Media: Scott Leith, sleith@coca-cola.com

Source: The Coca-Cola Company

FAQ

What is the dividend amount declared by Coca-Cola (KO)?

Coca-Cola declared a quarterly dividend of 44 cents per common share.

When is the dividend payment date for Coca-Cola (KO)?

The dividend is payable on December 15, 2022.

Who were elected as the new corporate officers at Coca-Cola (KO)?

The new corporate officers are Felix Poh (VP), Neeraj Tolmare (Global CIO), and Mark Westfall (Chief Services Officer).

What is the significance of the new corporate officers for Coca-Cola (KO)?

The new officers may enhance Coca-Cola's strategic and digital capabilities, potentially benefiting the company's growth.