The Coca-Cola Companytoday announced that John Murphy, 60, will become President and Chief Financial Officer effective Oct. 1. Murphy, who currently serves as executive vice president and CFO, will add the president role following the retirement of Brian Smith, 66.
Smith joined Coca‑Cola in 1997 and has served as president and chief operating officer since 2019 following two years as president of the company’s former Europe, Middle East and Africa Group. He will remain with the company as a senior executive through February 2023.
“Brian has made innumerable contributions to the Coca-Cola system during his 25 years with the company,” said James Quincey, Chairman and CEO of The Coca-Cola Company. “I thank him for his service and, on behalf of the company, wish him all the best.”
The company is evaluating its future plans for the chief operating officer role. The company’s operating unit presidents will report to Quincey on an interim basis.
The new president, John Murphy, began his career at Coca-Cola in 1988 and servedas President of the company’s Asia Pacific group from 2016 to 2018, before becoming Executive Vice President and CFO on March 16, 2019. He is responsible for leading the company’s global finance organization and representing the company with multiple stakeholders, including investors, lenders and rating agencies. He oversees Mergers & Acquisitions, Investor Relations, Global Strategy, Tax, Treasury, Audit, Accounting and Controls, Reporting and Analysis, Real Estate and Risk Management. As president and CFO, he will take on expanded duties, including oversight of Global Ventures; Platform Services; online-to-offline (O2O) digital transformation; and customer and commercial leadership.
“John has been a vital business partner and leader at the company,” Quincey said. “As president and CFO, John’s new role will be instrumental in driving critical, enterprise-wide imperatives across the Coca-Cola system.”