On the trail of a reshuffling of the executive decks under the stewardship of the new chief executive Neville Isdell, Coca-Cola has introduced Chuck Fruit as the new Chief Marketing Officer. Fruit replaces Daniel Palumbo, who served the cola major for little more than one year.
Fruit’s shifting from the post of VP, Integrated Marketing, has been the third major executive-level movement ever since Isdell took the helm earlier this month. The move is apparently understood as part of Isdell’s decision to reshape the marketing wing. The world’s largest soft drink manufacturer faced criticism for not developing innovative, creative marketing campaigns to promote the flagship brand, Coke.
The 57-year-old veteran takes over as the marketing chief after a 13-year stint with the Atlanta-headquartered beverage giant. He was responsible for developing global media and sponsorship strategies and investments. Famed as a cutting-edge thinker, Fruit assumes the marketing responsibility on a face of a major senior-management restructuring.
The move, however, pulled the Coca-Cola stock by 0.3 per cent in active trade on the New York Stock Exchange on June 22.