- 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)