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Coca-Cola announces new appointments, quarterly dividend

BY Drew Buono

ATLANTA While releasing their quarterly dividend, Coca-Cola announced the election of two people to the positions of senior vice president and director of the company.

Joseph V. Tripodi was elected as senior vice president of Coca-Cola. He leads the company’s global marketing and commercial organizations. Prior to joining Coca-Cola, Tripodi was the senior vice president and chief marketing officer for Allstate Insurance.

Alexis S. Herman, the former Secretary of Labor has been elected as the company’s director. As part of her election, she was appointed to the Public Issues and Diversity Review Committee of the Board of Directors. She currently serves as the chair and chief executive officer of New Ventures, chair of the Diversity Advisory Board of Toyota Motor Sales, U.S.A. and is a member of the boards of directors at Cummins Inc., Entergy Corp. and MGM Mirage.

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Coca-Cola reports profit rose 13 percent in Q3

BY Allison Cerra

ATLANTA he Coca-Cola Co., the world’s largest beverage maker, reported Wednesday a 13 percent increase in third-quarter profit on a double-digit increase in sales.

Beating market expectations, Atlanta-based Coca-Cola said it earned $1.65 billion, or 71 cents per share, compared to a profit of $1.46 billion, or 62 cents per share, for the same period a year ago.

Revenue in the quarter rose 19 percent to $7.69 billion, compared to $6.45 billion a year ago.

In morning trading on Wednesday, Coca-Cola shares rose 95 cents to $58.71.

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Tiger picks personal name-brand flavors in Gatorade deal

BY Allison Cerra

CHICAGO Golfers can’t get a swing like Tiger Woods, but they can swig like him, due to the introduction of his sports drink, the Associated Press reported Tuesday.

The world’s No. 1 golfer signed a licensing agreement with beverage company Gatorade. By March, AP said, the company will introduce “Gatorade Tiger” in March, with more products to follow.

The beverages, sponsored and used by athletes, are used for hydration during intense activity. Several athletes, including Michael Jordan and NFL quarterback Peyton Manning have endorsed the products, though none of them had licensing agreements with the PepsiCo subsidiary.

Terms of the deal were not disclosed, although Golfweek magazine reported last month the contract would span over five years and could pay Woods as much as $100 million, moving him closer to the $1 billion mark in career endorsements.

“Gatorade has been part of my game plan for years, whether I’m training or competing, so this is an ideal match,” Woods said in a statement. “I’m eager to launch my first signature product in a few months and look forward to developing additional sports performance beverages with Gatorade in the coming years.”

Woods personally selected the flavors for his line, which will be available in a cherry blend, citrus blend and grape.

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