Letter from our Chairman and Chief Executive Officer

On behalf of the Board of Directors and the leadership of The Coca-Cola Company, I want to thank you for your investment. It is my privilege to serve as Chairman and Chief Executive Officer, and I appreciate the responsibility and trust involved in helping shape this great business for continued success in the future.

In the 134 years since Coca-Cola was invented, the brand has grown and the Company has evolved enormously. Today, we offer more than 500 brands and more than 4,700 products, including reduced-sugar drinks and smaller packages. The speed of change we see today is, arguably, faster than ever. We’ve been on a continuous journey to evolve as a total beverage company – and I’d emphasize the word journey, because it is something that never ends.

While our portfolio has grown and diversified, especially in recent years, Trademark Coca-Cola remains at our core. This brand is one part of the consistency that has made us a great Company for so long.

Refresh the World, Make a Difference

The core purpose of The Coca-Cola Company is important to reiterate – we exist to refresh the world and make a difference. By operating this way, we’ve been successful as a system for more than a century and, along the way, we’ve continually created value for a broad and diverse group of stakeholders. This forms the foundation that allows us to generate strong returns for you, our shareowners.

We’ve spent a considerable amount of time lately reflecting on the purpose of our Company, especially in light of the rapid changes in the world around us. What we’ve learned is that the Company’s purpose remains unique. It’s why we exist, and it’s needed now, more than ever.

Our purpose is supported by a vision to craft brands that people love – brands that refresh them in body and spirit. We do this in ways that create a more sustainable business and a better shared future that makes a difference in people’s lives, communities and our planet.

We’re playing our part in seeking solutions to some of the world’s key challenges, including water and packaging waste. And we invest in people’s lives, from our employees to all those who touch our business system.

“Our purpose is supported by a vision to craft brands that people love – brands that refresh them in body and spirit. We do this in ways that create a more sustainable business and a better shared future that makes a difference in people’s lives, communities and our planet.”

James Quincey
Chairman and Chief Executive Officer

Our Progress in 2019

When I reflect on the work of the Company leaders who came before us, I’m struck by how forward-thinking they were. Their long-term vision for the business was vital. We, too, are shaping The Coca-Cola Company not just for the quarters ahead but for years and decades down the road.

At the same time, we’re working to make progress every day. As I think back on 2019, it was a meaningful year in the evolution of our Company.

Importantly, it was a period of revenue growth and value share gains across the world. Sparkling soft drinks remained critical to our business. Our ability to grow revenue for these brands helped fuel and enable new innovations and investments.

People love Trademark Coca-Cola, and we’re doing more with the trademark than ever before. Coca-Cola Zero Sugar continued to grow in the double digits globally. Coca-Cola Orange Vanilla was our first new Trademark Coca-Cola flavor in 12 years. We expanded Coca-Cola with Coffee across more than 35 additional markets.

We also introduced Coca-Cola Energy in more than 45 markets. Our approach with Coca-Cola Energy – to be fast, nimble and ready to make changes – stands out as an example of what we want to see from people across our Company. Not everything will work, but our growth mindset means we are agile and empowered. We’re taking action and trying new things.

In 2019, we also completed our acquisition of Costa Limited. We focused on working with the Costa team to develop a plan for disciplined growth. We introduced ready-to-drink Costa, and we expanded our footprint of Costa Express smart cafés. We also grew our on-premise offerings, all while working to ensure Costa’s retail outlets are in the best locations.

In addition, we acquired full ownership of C.H.I. Limited, an innovative, fast-growing leader in juices, value-added dairy and iced tea in West Africa. And, at the beginning of 2020, we acquired the remaining stake in fairlife, LLC.

Creating Shared Value

The idea of creating shared value is a powerful part of our culture. Our world is ever more interconnected and transparent. People expect us to serve as leaders.

Today, this includes addressing one of the great challenges of our era – the proliferation of packaging waste. Our World Without Waste strategy, which we introduced in 2018, is becoming fully embedded in how we do business. Our goal is to collect the equivalent of 100% of the bottles and cans we sell by 2030. We want to stop waste from entering the environment, and we also want to turn old bottles into new bottles or other useful items.

This is an important part of how we plan to reduce our carbon footprint. When plastic bottles are recycled and reused to make new bottles, they have a lower carbon footprint than many other types of packaging. This addresses two significant goals – eliminating packaging waste and reducing carbon. These are core business priorities that are deeply ingrained in everything we do.

Our work in this space is one of many examples of how we’re working with a diverse group of stakeholders. This is one of my major roles as Chairman and Chief Executive Officer of the Company, in partnership with my fellow Directors and leaders from across the Company. I thank them and appreciate their support.

Finally, let me close by thanking you again for your investment in and support of The Coca-Cola Company. I am glad you are on the journey with us.

James Quincey
Chairman and Chief Executive Officer
The Coca-Cola Company