Coca-Cola Beverages Africa (CCBA) announced that its long-serving CEO, Jacques Vermeulen, will retire after an illustrious 28-year career with the Coca-Cola system.
Sunil Gupta, who currently serves as the Chief Financial Officer for The Coca-Cola Company’s Bottling Investments Group (BIG), will step into the role of CEO on April 1, 2024.
With a 25-year tenure within the Coca-Cola system, Sunil brings a wealth of experience in business and finance. He has significantly contributed to the transformation and turnaround of BIG’s business since 2018. His prior roles include key operating positions with Coca-Cola FEMSA operations in the Philippines and the company-owned bottler in India.
Sunil’s academic credentials include a bachelor’s degree from the University of Delhi and Chartered Accountant qualifications. He has further honed his executive skills through programmes at INSEAD Business School in Singapore and the Wharton School of the University of Pennsylvania.
In his forthcoming role, Sunil will play a pivotal part in CCBA’s ambition to go public via an initial public offering (IPO), a strategic move aimed at bolstering the company’s growth trajectory once market conditions are deemed favourable.
During the transition, Norton Kingwill, CCBA’s Chief Financial Officer, will act as CEO, ensuring a seamless handover. This period is critical as CCBA continues to build on its foundation for superior growth.
Bruno Pietracci, Chairman of the CCBA Board, expressed his gratitude towards Jacques for his dedication and leadership, stating, “On behalf of the CCBA board, I want to recognise and thank Jacques for his many contributions to CCBA over the past 28 years. He guided CCBA through a global pandemic, a strong recovery and laid the foundations for continued superior growth.”
Jacques reflected on his tenure with appreciation, highlighting the commitment and resilience of the CCBA teams. “It has been a privilege leading CCBA the past five years,” Jacques mentioned. “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, although the headwinds faced in-market.”
As CCBA embarks on this new chapter, the leadership transition signifies a continued commitment to growth, innovation, and sustainability within the Coca-Cola system. With Sunil Gupta at the helm, CCBA is poised for further success, leveraging its position as Africa’s largest Coca-Cola bottler to make an even more significant impact in the beverage industry.
