Coca-Cola’s Benelux companies will have a new chairman by the first of March. The new chairman is the Belgium-Argentinian Juan Ignacio de Elizalde. He is stepping in the footsteps of the Dutchman Hessel de Jong, who says “on his own and after a well-considered thinking process” decided to leave the soft drink company.
Juan Ignacio de Elizalde started his career in 2000 as an advisor at the strategic consulting firm Boston Consulting Group. Two years later he switched to Coca-Cola where he occupied multiple management positions. Amongst other things, de Izalde was Director of Planning at Coca-Cola. Ignacio de Elizalde started his career at Coca-Cola in Argentina.
The new Coca-Cola chairman immediately faces a huge challenge. Namely, Coca-Cola had a relatively poor year in 2013. The past year, the total turnover dropped with 2,4% to €34,1 billion and the profit even dropped with 4,5% to a little over €6,2 billion.
These subordinate performances can be attributed to diverse developments, including disappointing results in the south of Europe and developmental countries like India, China and Mexico. In reactance to this turnover drop, Coca-Cola is planning on investing more money in media-expressions and remainder marketing activities. According expectations, approximately €728 million will be provided for this.
A striking problem is present at the domestic market. More and more Americans turn away from sugared drinks. Also in Europe, including the Netherlands, this trend is visible. Now it is up to Ignacio de Elizalde to bring Coca-Cola back to its old times of glory.