The board of directors of The Coca-Cola Company announced on Wednesday the appointment of Spaniard Manuel Arroyo as executive vice president of the company, effective January 1, 2024, the company said. At the same time, the executive maintains his duties as Global Marketing Director, a position he has held since January 2020.
Arroyo was appointed head of global marketing at the Atlanta-based multinational (a position already held for years by fellow Spaniard Marcos de Quinto) at the end of 2019, effective January 2020. Previously, the executive, who started working at Coca-Cola in 1995 in Madrid, was responsible for the operations of the group's divisions in the Asia Pacific region.
The rank of Executive Vice President is a recognition, but it does not fundamentally change his duties. In the company, he certifies a position in the hierarchy that would be between third and fourth. He trails Chairman and Chief Executive Officer James Quincey and President and Chief Financial Officer John Murphy, and in a similar position to Group Vice President and North America Division President Jennifer Mann.
Manolo Arroyo, as the company calls him in its statement, is responsible for the marketing teams of the entire group. The company mentions that it is at the forefront of the integrated marketing experience, including media, digital marketing, design, marketing assets (music, sports, entertainment, and influencers), human insights, and marketing performance; marketing operations and capabilities; and the Office of Marketing Transformation.
Arroyo earned $7.35 million in 6 as the group's chief marketing officer, according to the U.S. company. That compensation, slightly lower than the $9.2022 million a year earlier, was the fourth-highest among the top executives of the Atlanta-based company, Georgia. As global chief commercial officer, he was already on the same stock pay scale as an executive vice president.
The Spanish executive held the position of president of the company's Asia-Pacific group from 2019 to 2020. He was responsible for operations in the group's five business units. Arroyo served as president of the company's Mexico business unit from 2017 to 2019. He had left Coca-Cola in 2014 to rejoin S.C. Johnson & Son as vice president and president of Asia Pacific. From 2015 to 2016, he held the position of CEO of the Spanish oil company Deoleo.
Previously, he was president of Coca-Cola's Southeast and West Asia (SEWA) business unit from 2006 to 2009 and president of the Asia-Pacific business unit from 2010 to 2014. He began his career at Coca-Cola in 1995 and held various marketing positions in Spain and in the global strategic marketing department in Atlanta, as well as general management positions, including marketing director and general manager of sparkling brands for the company's Iberia business unit from 2000 to 2004 and general manager for Spain and the bottling sales company from 2004 to 2006. Prior to joining Coca-Cola, he worked for two years in marketing at S.C. Johnson & Son and two years in the Cabinet of Banco Santander.
Coca-Cola's board of directors has also reviewed the titles of other executives who were already in elective roles. The functions have not been changed. These reviews will be reflected in executive biographies on the company's website in January.
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