Coca-Cola restores global CMO role after CGO Francisco Crespo retires

By re-introducing the CMO's role, Coca-Cola has also called for restructuring and splitting of duties among teams

e4m by exchange4media Staff
Updated: Dec 17, 2019 11:07 AM
Coca Cola e4m

Coca-Cola has decided to bring back the CMO role, according to recent media reports. The company had scrapped the role in favour of ‘Chief Growth Officer’ title in 2017. But with the retirement of CGO Francisco Crespo, the company has decided to revive the old title.

Crespo, who had decided to retire, assured that the company’s growth strategy is firmly in its place. Since 2017, he had been overseeing integrated global marketing, customer and commercial operations and corporate strategy for the company.

In his statement, Crespo said Coca-Cola is headed for “sustained and long-term growth.”

Back in 2017, Coca-Cola had introduced the title as part of its focus to innovate, grow and be customer-centric. The soft drink giant needed to rejig its strategies because of growing consumer health concerns related to obesity.

The last CMO to retire from Coca-Cola before Crespo was Marcos de Quinto, who was with the company for 35 years. On his retirement, the company decided to scrap the CMO role altogether, introducing the CGO role in its place. Coca-Cola merged its marketing team with the consumer and customer team that would report to the CGO.

But with Crespo’s retirement, Coca-Cola will reassign these duties. Integrated marketing will now be under new CMO Manolo Arroyo. CFO John Murphy will undertake corporate strategy, and customer and commercial operations will be under chief operating officer Brian Smith.

For more updates, be socially connected with us on
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube