The Coca-Cola Company Elects Three Officers and Declares Regular 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 46 cents per common share, payable on July 3 to shareholders of record as of June 16. The newly elected officers include Ellie May, who will serve as vice president and controller, succeeding retiring Kathy Loveless. May brings over 20 years of experience from Ernst & Young LLP. Mark Harris is appointed general tax counsel, and Robin Halpern will lead investor relations, succeeding Tim Leveridge. Halpern has held significant roles at top financial institutions, enhancing her capability in investor relations. The leadership changes may signify a strategic shift as the company continues to adapt to market dynamics.

Positive

• Regular quarterly dividend increased to 46 cents per share.
• Appointment of experienced corporate officers, which may strengthen management.

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 regular quarterly dividend.

Ellie May has been elected vice president and controller of The Coca-Cola Company. (Photo: Business Wire)

The dividend is 46 cents per common share and is payable July 3 to shareowners of record of the company as of the close of business June 16.

Corporate officers elected

• Ellie May has been elected vice president and controller. She is joining the company May 1 and will succeed Kathy Loveless, who is retiring July 15 after a transition period. Loveless is stepping down after a 35-year career with the company. May joins Coca-Cola from Ernst & Young LLP, where she was an audit partner serving companies in the retail and consumer products industry for more than 20 years. May also spent time in EY’s National Accounting practice in New York and capital markets and audit practices in Europe. In these roles, she was responsible for overseeing the global audits of large multinational companies, supervising engagement teams, monitoring standard-setting activities, and developing EY’s interpretive guidance on the topic of revenue recognition. May is a CPA in Georgia, New York and Arkansas. She has a bachelor’s degree in international business from the University of Georgia and a master’s degree in accounting from the University of Virginia.
• Mark Harris has been elected vice president. Harris currently serves as deputy tax counsel and will become general tax counsel May 1, succeeding Bob Jordan. Jordan is retiring April 30 after a 29-year career with the company, including nearly 10 years in his current role. Harris has been with the company since 2006 and was promoted to deputy tax counsel earlier this year. Prior to Coca-Cola, Harris was with EY and, before that, the Office of the Chief Counsel of the U.S. Internal Revenue Service. Harris has a bachelor’s degree from the University of Rochester, a juris doctor degree from Albany Law School and a master of laws degree from New York University.
• Robin Halpern has been elected vice president. She leads investor relations and succeeds Tim Leveridge, who has taken a new role as chief financial officer for the company’s Europe operating unit. Halpern joined the company in 2020 from Wall Street, where she covered the consumer staples sector. She served as senior vice president and managing director at Bernstein Research, where she spent 10 years as the consumer sector strategist. She held similar roles at Barclays Capital, Lehman Brothers and UBS. Halpern holds a bachelor of science degree in commerce from the University of Virginia.

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 water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka. Our juice, value-added 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 Instagram, Facebook and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005147/en/

Investors and Analysts: Robin Halpern, koinvestorrelations@coca-cola.com

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

Source: The Coca-Cola Company

FAQ

What is the Coca-Cola Company's dividend amount for July 2023?

The Coca-Cola Company's dividend amount for July 2023 is 46 cents per common share.

When is the dividend payment date for Coca-Cola?

The dividend payment date for Coca-Cola is July 3, 2023.

Who are the newly elected officers at Coca-Cola?

The newly elected officers at Coca-Cola include Ellie May as vice president and controller, Mark Harris as general tax counsel, and Robin Halpern as vice president leading investor relations.

What is the significance of the new corporate officers at Coca-Cola?

The election of new corporate officers at Coca-Cola may indicate a strategic shift in management aimed at enhancing operational effectiveness and investor relations.