Coca-Cola (KO) has announced a major reorganization of its Americas business that includes the departure of the head of the operations, Steve Cahillane, who was once seen as a possible successor to CEO Muhtar Kent.
Cahillane's exit leaves International boss Ahmet Bozer as the clear number two at the company, with the latter's responsibilities being extended to include Latin America.
The beverages giant also intends to split its North American unit into two units, Coca-Cola North America and Coca-Cola Refreshments. The plan is part of Coke's strategy to return to a franchise model in the U.S. whereby the company will partner with independent bottling firms. However, Coke is expected to retain control over production. (PR)