For the first time in several years, Coca-Cola will have a chief marketing officer.
This week, the Atlanta-based company announced it was reinstating the role of CMO by promoting Manolo Arroyo, a longtime veteran of the brand who will also continue his current position as president of the company’s Asia Pacific Group. It’s the first time Coca-Cola has had a CMO since in 2017, when it nixed the role in favor of a chief growth officer. Since then, the job has been filled by Francisco Crespo, who will retire next year.
The resurrection comes at a time when many companies are wondering whether to change the role of a CMO, even to have one, or if the duties should be broadened or diversified among a number of executives.
While Crespo has been in charge of global marketing, corporate strategy and customer and commercial operations, Coca-Cola is splitting the duties between several executives. As CMO, Arroyo will head up integrated global marketing including creative, category, marketing, design and insights. Chief Financial Officer John Murphy will lead the corporate strategy team and President and Chief Operating Officer Brian Smith will head up customer and commercial operations.
Arroyo, who has spent more than two decades at the company, began in Spain on the brand management team in 1995 before moving to Atlanta in 1998 to create the company’s global water strategy. He returned to Spain two years later to spend nearly a decade working as marketing director for the Iberia business unit before taking the job leading the Asia Pacific region earlier this year.
“We know consumer needs are changing faster and faster, and it is critical for the company to be agile in how it responds and adapts,” Coca-Cola CEO James Quincey said in a statement. “Manolo’s dual leadership over operations and marketing is a new structure for us, and we anticipate that it will evolve in the months ahead. Manolo’s focus will range from developing work that can be used around the globe to supporting local campaigns.”
By Marty Swant
Source: Forbes
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