Coca-Cola India boss Venkatesh Kini likely to move out of current role
- Himachal election results 2017 LIVE: Counting of votes begins 8 am in 42 centres
- Gujarat election results 2017 LIVE: BJP and Congress fate on the line, counting of votes begins at 8 am
- For whom the bell tolls in Gujarat and Himachal Pradesh
- Gujarat elections: EC withdraws notice to Rahul Gandhi over TV interviews
- Andhra Pradesh: Chandrababu Naidu unveils schemes named after himself
New Delhi: Venkatesh Kini, president of Coca-Cola India and South West Asia, is likely to move out from his current role, according to three people familiar with the development.
A formal announcement is likely in the next few days.
When contacted, Kini refused to talk on the issue. Coca-Cola did not respond to queries till press time.
Kini, who moved to India in October 2012 as senior vice-president, from the company’s global juice business, went on to become the boss of the Indian arm of the American beverages giant on 1 July 2013 after his predecessor Atul Singh moved to a global role.
It could not be confirmed if Kini will quit Coca-Cola or take up a new role in the company.
Coca-Cola Co. on 25 April said it would cut about 1,200 jobs as it expands its savings target amid falling demand for fizzy drinks globally.
Coca-Cola’s sales in India and south west Asia, which includes markets like India, Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives, “dropped by a low single digit” during January-March 2017, according to the company’s global-results announcement for the quarter earlier this week. During the same period last year, the company reported an 11% growth. During the full year 2015-16, its profit in India fell by about 6% while sales were flat.
The company has been trying to focus on non-carbonated beverages—like Vio (milk-based beverage), Zico (packaged coconut water), among others—for the past couple of years, but sales are yet to pick up.
In January, Coca-Cola India reorganized its bottling operations and appointed Shehnaz Gill as senior vice president (operations) in India.
The company, which announced in 2012 that it will invest $5 billion in India by 2020 for capacity enhancement among other things, has run into objections from local communities in southern India over the use of ground water in the recent past.