Coca-Cola Enterprises elects Suzanne Labarge director
ATLANTA The Coca-Cola Enterprises board of directors has elected Suzanne Labarge as director, the company announced Wednesday.
“Suzanne is an accomplished leader who brings a wealth of risk management and financial experience and expertise to our board of directors,” said Lowry Kline, non-executive chairman of the board. Labarge is the former vice chairman and chief risk officer of RBC Financial Group, where she served in a variety of roles over her 25-year career there. She also served the Canadian government as an assistant auditor-general and as deputy superintendent of policy for the Office of the Superintendent of Financial Institutions Canada.
She currently serves on the board of governors for McMaster University, and has previously served as director and chair of the audit committee for Novelis and as a member of the board of the Bank of China in Beijing. Her term on the Coca-Cola board will expire in 2010.
“We look forward to working with her and benefiting from her international perspective and understanding of our business opportunities,” Kline stated.
Hershey tries luck on lottery promotion
HERSHEY, Pa. Lottery players in such states as Illinois, South Dakota, Idaho, Washington and Delaware will soon be able to try their luck on games like “Kisses & Cash,” and “Hugs & Kisses.”
The Hershey Co. recently reached a licensing agreement with Atlanta-based MDI Entertainment to offer Hershey-branded lottery tickets. The company believes the pairing of the Hershey brand with instant lottery tickets is a natural fit. “Hershey’s goal is to be everywhere our customers are,” said Kirk Saville, spokesman for Hershey. “This partnership represents a powerful way to extend our brands and reach our customers.”
Additionally, the demographics of people who buy lottery tickets and the outlets where they are sold fit well with the consumers who buy Hershey products, he said. As MDI is focused soley on Hershey, the company won’t have to worry about competing with other candy makers in the field while for MDI, the licensing agreement presents an opportunity to develop a stand-out product in what has become a competitive business. The agreement also lends itself to a marketing strategy.
“Reese’s Peanut Butter Cup is the most popular candy bar in the world,” Steve Saferin, president of MDI and Scientific Games, said. “You don’t need to do much more than put them on a ticket and use that as a way to support a branding strategy, as well as Hershey.”
Coca-Cola names Kent to chief executive position
ATLANTA Coca-Cola Co.’s president and chief operating officer is set to become the beverage giant’s new chief executive officer.
Muhtar Kent will replace Neville Isdell as CEO on July 1, 2008, the company announced Thursday.
Kent, who has broad experience in international company management, said he would continue an existing strategy of reviving brands, expanding overseas operations and acquiring new brands. He was named president of Coca-Cola International in January 2006 and appointed president and COO of the company in December 2006.
Kent will continue to serve as president of the company when he acquires the chief executive position next year.
Isdell will continue in the dual capacity of chairman of the board of directors and CEO until that date and remain chairman until April 2009.
“The opportunity to lead The Coca-Cola Company is an extraordinary honor, and I am grateful to the board for the confidence it has placed in me,” Kent said. “I look forward to building on the strong foundation for sustainable growth that we have set in place for the Coca-Cola system around the world.”