The Board of Directors of The Coca-Cola Company Declares Quarterly Dividend; Elects Three Officers
The Board of Directors of The Coca-Cola Company today declared a regular quarterly dividend of 34 cents per common share. The dividend is payable July 1, 2007, to shareowners of record as of June 15, 2007.
The Board also elected Rick Frazier and Bilal Kaafarani as vice presidents and Harry Anderson as vice president and controller of the Company.
Mr. Frazier leads the Company's Global Quality, Scientific & Regulatory Affairs, Environment & Water Resources and Business Process Excellence functions. Prior to assuming his current role, Mr. Frazier was Chief Quality Officer.
Mr. Frazier joined the Coca-Cola system in 2000 as corporate vice president, Quality Assurance for Coca-Cola Enterprises, the world's largest Coca-Cola bottler. Before joining the Coca-Cola system, he held a number of supply chain and quality leadership positions for the Gatorade Division of The Quaker Oats Company. He also worked with The Pillsbury Company in a supply chain leadership role, responsible for new product commercialization, supply chain optimization and plant management.
Mr. Frazier has a bachelor's degree in business administration from the University of Illinois, Urbana, Ill., and is a member of the Executive Leadership Council and GMA/FPA Science Institute Council and Board Trustee of The Keystone Center.
As head of Global Development, Mr. Kaafarani has responsibility for the leadership and development of the Company's global R&D strategy, the management of the global innovation pipeline, and bringing together all R&D Centers into an effective global network to increase the pace, efficiency and impact of innovation and growth of the business top line. Prior to joining the Company in 2006, Mr. Kaafarani served as vice president of Research & Development and Chief Technology Officer for UK, Europe, and Middle East & Africa for Frito-Lay. He held prior leadership roles with Frito-Lay, Tropicana, Procter & Gamble and for more than 10 years was with Kraft.
Mr. Kaafarani has a bachelor's degree in chemical engineering from Wayne State University.
Mr. Anderson was appointed as interim controller in February, after most recently serving as chief financial officer of Coca-Cola North America. Mr. Anderson joined the Company in 2001 and, prior to his most recent role, served as vice president and director of Supply Chain and Manufacturing Management. Before joining the Company, he served in roles of increasing responsibility at Turner Broadcasting System Inc., where he was executive vice president of Finance and Operations for Turner Entertainment Group. Mr. Anderson also served as vice president and group controller for the Turner Sales and Distribution Group. Prior to his roles at Turner Broadcasting, he worked in leadership roles in Audit and Accounting Services at Price Waterhouse.
Mr. Anderson has a bachelor's degree in accounting from the University of Alabama and is a Certified Public Accountant.
The Coca-Cola Company is the world's largest beverage company. Along with Coca-Cola, recognized as the world's most valuable brand, the Company markets four of the world's top five nonalcoholic sparkling brands, including Diet Coke, Fanta and Sprite, and a wide range of other beverages, including diet and light beverages, waters, juices and juice drinks, teas, coffees, energy and sports drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy the Company's beverages at a rate exceeding 1.4 billion servings each day. For more information about The Coca-Cola Company, please visit our website at www.thecoca-colacompany.com.
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Source: Coca-Cola Company
Released April 19, 2007