Coca-Cola CEO Terry Davis to step down next year

Sydney, Mar 18 (ANI): Coca-Cola's chief executive Terry Davis will step down next year, the beverage group has announced.

Chairman David Gonski said Davis would retire on August 31 next year after more than 12 years running the firm.

Gonski said that the next 18 months will be crucial for Coca-Cola Amatil in the further development of its alcoholic beverage strategy and the accelerated plans for growth of the Indonesian business and the Board felt it was prudent to provide the market with certainty as to Terry's tenure, the Age reports.

His most likely successor is tipped to be Warwick White, the head of the Australasian business, who has spent more than 28 years in the global Coca-Cola system.

Other contenders are believed to include John Murphy, a former CEO of beer giant CUB, who joined Coca-Cola Amatil to help it develop its alcohol strategy. In July, he was appointed managing director of Australian beverages, the report said. (ANI)

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