Coca-Cola Beverages Africa Announces CEO Succession
Coca-Cola Beverages Africa Announces CEO Succession. Coca-Cola Beverages Africa (CCBA) has announced that CEO Jacques Vermeulen will retire after 28 years of service with the Coca-Cola system.
CCBA has appointed Sunil Gupta, currently chief financial officer for The Coca-Cola Company’s Bottling Investments Group (BIG), as Jacques’ successor, effective 1 April 2024. Sunil’s career includes 25 years in the Coca-Cola system, with extensive operating experience in business and finance, having worked closely with commercial, supply chain, IT, human resources, and other functions. Sunil has served as CFO of BIG since 2018 and helped transform and turnaround its business. Prior to his current role with BIG based in Singapore, Sunil has been successful in complex operating roles with former Coca-Cola FEMSA operations in Philippines and the company-owned bottler in India. Before joining the Coca-Cola system in 1999, Sunil held roles with Bank of America NT&SA in Mumbai, India; Casio India Limited in New Delhi, India; and Ernst & Young International in New Delhi, India.
Sunil holds a bachelor’s degree from the University of Delhi and is a qualified Chartered Accountant. He has completed executive programmes at INSEAD Business School in Singapore and the Wharton School of the University of Pennsylvania in Philadelphia. Sunil will play a critical role in The Coca-Cola Company’s continued commitment to successfully list CCBA as a public company via an initial public offering (IPO) once market conditions become more favourable. Norton Kingwill, chief financial officer of CCBA, will be acting CEO during the transition period before Sunil joins CCBA. Norton’s close working relationship with Jacques will help ensure stability and continuity.
“On behalf of the CCBA board, I want to recognise and thank Jacques for his many contributions to CCBA over the past 28 years,” said Bruno Pietracci, Chairman of the Board, CCBA. “He guided CCBA through a global pandemic, a strong recovery and laid the foundations for continued superior growth. Under his leadership, CCBA came together as ONE CCBA, and he set CCBA on the path for a major transformation. We congratulate Jacques on an outstanding career within CCBA and wish him and his family much success, good health and happiness in the future.”
“It has been a privilege leading CCBA the past five years,” Jacques said. “I commend the CCBA teams for their dedication and resilience in growing a sustainable business, anchored in CCBA’s strong values, while proving commitment to the transformational projects underway, despite the headwinds faced in-market. I thank all employees, customers, partners and stakeholders for the collaboration, trust and joint successes. I’m confident the successful journey of CCBA will continue for many years to come.”
