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Braun, 57, has worked at Coca-Cola for three decades. Prior to
assuming the COO role earlier this year, he led operations in
Brazil, Latin America, Greater China and South Korea. He has
held positions overseeing Coke's supply chain, new business
development, marketing, innovation, general management and
bottling operations.
Braun was born in California and raised in Brazil. He holds a
bachelor’s degree in agricultural engineering from the
University Federal of Rio de Janeiro, a master of science degree
from Michigan State University and an MBA from Georgia State
University.
David Weinberg, Coca-Cola’s lead independent director, called
Quincey, 60, a “transformative leader” who will continue to
remain active in the business.
During Quincey's nine years as CEO, Coke added more than 10
additional billion-dollar brands, including BodyArmor and
Fairlife. He also brought Coke into the alcoholic drink market
with Topo Chico Hard Seltzer, which went on sale in 2021.
In 2020, Quincey led a restructuring that reduced Coke's brands
by half and laid off thousands of employees. Quincey said Coke
wanted to streamline its structure and focus its investments on
fast-growing products like its Simply and Minute Maid juices.
But as Quincey steps down as CEO, Coke is facing numerous
challenges, including tepid demand for its products in the U.S.
and Europe and increasing customer scrutiny of its ingredients.
This summer, after a nudge from President Donald Trump, Coke
said it would release a version of its trademark Cola with cane
sugar instead of high-fructose corn syrup.
Weinberg said the board is confident that Braun will build on
the company's strengths and seek out growth opportunities
globally.
Coke shares were flat in after-market trading.
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