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Coca-Cola Elevates Sanket Ray To President of India And Southwest Asia Business
Coca-Cola has promoted Sanket Ray to the President of India and Southwest Asia business, from his position as the Chief Operating Officer for its Mainland China business. And T. Krishnakumar, heading Coca-Cola India as president since April 2017 has been named chairman of the company.
The Coca-Cola Company has promoted Sanket Ray to the President of India and Southwest Asia business, from his position as the Chief Operating Officer for its Mainland China business.
Previously, Ray was the chief executive officer at Coca-Cola Beverages Vietnam Ltd. He also worked with the company’s owned bottling unit in India, Hindustan Coca-Cola Beverages (HCCB).
T. Krishnakumar, heading Coca-Cola India as president since April 2017 has been named chairman of the company. Coca-Cola said Krishnakumar would be accountable for building and strengthening critical local partnerships in India and supporting the new operating unit leadership team.
The appointments go along with the company’s broader reorganization, first announced on August 28. Its 17 business units, were then replaced with nine larger operating units. This will become effective on January 1, 2021, subject to a consultation where required under local laws.
The company had announced at least 4,000 job cuts across markets last week. This results as a consequence of the pandemic and lockdowns across markets including India, that severely impacted April-June quarter sales.
The maker of Coke and Sprite soft drinks said it intends to first offer buyouts to 4,000 employees in large markets like the United States, Canada and Puerto Rico and then offer similar voluntary programmes in other countries. The impact of job reductions in India is not yet known.
At the quarter end of June 2020, Coca-Cola also witnessed a fall of 12% in the volumes for sparkling soft drinks led by India, Western Europe and the fountain business in North America, it said in a statement, attributing the decline to pressure in away-from-home channels. In the Asia Pacific region, unit case volumes dropped 18%, primarily due to strict lockdowns in India, the company had said.
