UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
The Coca-Cola Company (the “Company”) announced that, effective January 1, 2025, Henrique Braun, age 56, has been named Executive Vice President and Chief Operating Officer of the Company. In this expanded role, Mr. Braun will be responsible for all the Company’s operating units worldwide. Mr. Braun joined the Company in 1996 and progressed through roles of increasing responsibilities in North America, Europe, Asia and Latin America. Those positions included supply chain, new business development, marketing, innovation, general management and bottling operations. He has served in regional, business unit and corporate functions. Mr. Braun served as the President of the Greater China and Korea business unit from April 2013 to August 2016, the President of the Brazil business unit from September 2016 to September 2020, and the President of the Latin America operating unit from October 2020 to December 2022. Mr. Braun was named President, International Development, with oversight of seven of the Company’s operating units in January 2023 and was appointed Executive Vice President in January 2024. He will continue to serve as Executive Vice President and President, International Development until his appointment to Executive Vice President and Chief Operating Officer.
On December 11, 2024, the Company provided a letter to Mr. Braun to confirm his new position and primary compensation elements that will be effective commencing January 1, 2025. Pursuant to Mr. Braun’s letter, his base salary will be $1,050,000 effective as of January 1, 2025. Mr. Braun will continue to be eligible to participate in the Company’s Annual Incentive Plan and Long-Term Incentive program, and the Talent and Compensation Committee of the Board of Directors (the “Compensation Committee”) set Mr. Braun’s target annual incentive at 175% of his annual base salary. Mr. Braun will continue to be subject to the Company’s share ownership guidelines, and he will receive certain additional benefits described therein. Details regarding base salary determinations, the Annual Incentive Plan and the Long-Term Incentive program are included in the Compensation Discussion and Analysis section of the Company’s definitive proxy statement for the 2024 Annual Meeting of Shareowners filed with the Securities and Exchange Commission on March 18, 2024. The foregoing description is qualified in its entirety by reference to the letter to Mr. Braun, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
A copy of the Company’s press release announcing the appointment of Mr. Braun is furnished with this report as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
Exhibit No. |
Description |
| 10.1 | Letter, dated December 11, 2024 from the Company to Mr. Braun. |
| 99.1 | Press Release of The Coca-Cola Company, dated December 11, 2024. |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the iXBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| THE COCA-COLA COMPANY | |||
| (REGISTRANT) | |||
| Date: December 11, 2024 | By: | /s/ Monica Howard Douglas | |
| Monica Howard Douglas | |||
| Executive Vice President and Global General Counsel | |||