Coca-Cola chairman and CEO resigns
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Manufacturing News, Source : TheManufacturer.com
Published : 20 Feb 2004 16:17
The Coca-Cola Company, the world’s largest beverage company, announced the retirement of its chairman and chief executive officer, Douglas N. Daft, the latest in a string of resignations at the company.
Daft became chairman and CEO in 1999, and oversaw major restructuring of the company. He plans to step down at the end of this year.
Since December, human resources head Coretha Rushing and the company’s North American division head Jeff Dunn have announced their resignations. In August 2003, another Coca-Cola executive left the company following charges that he falsified a marketing test. The company is currently facing an ongoing criminal investigation into fraud charges.
“Over the past four years, we have accomplished a great deal and repositioned this company for accelerated growth,” Daft said in a statement. “I am especially pleased with our net results in 2003, and our prospects for success in 2004 are very good.” Revenues for the Atlanta, GA-based company increased eight percent to $21.04 billion in fiscal year 2003.
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