Coca-Cola West and Coca-Cola East Japan form Coca-Cola Bottlers Japan
Two Coca-Cola bottlers in Japan are merging to form one company from 1 April 2017.
Last September, Coca-Cola East Japan (CCEJ) and Coca-Cola West (CCW) said they were in talks to form one group, dubbed Coca-Cola Bottlers Japan (CCBJ).
In a joint statement, the companies confirmed they had reached agreements at their respective shareholder meetings.
The two companies also announced the new board of directors and auditors for the new company.
As part of the merger, both CCW and CCEJ will become subsidiaries of CCBJ.
The company climas that the new firm would be the largest Coca-Cola bottler in Asia and the third largest, by sales, in the world.
CCBJ is expected to provide about 90% of the company’s volume sold in Japan.
It will remain focused on conducting its business locally, through its subsidiaries, CCW and CCEJ’s activities.
The new company will see Tamio Yoshimatsu and Vikas Titu being appointed as the new representative directors. Yasunori Koga and Costin Mandrea are being appointed as the new directors.
Recently, Coca-Cola made leadership changes in the US. The change in the leadership is expected to support president James Quincey, who will later take charge as Coca-Cola CEO in May.
In May, Muhtar Kent will step down from the CEO designation, after serving eight years. Some of the personnel changes made include Coke Mexico president Francisco Crespo being appointed as the new chief growth officer, research and development executive Robert Long being appointed as the new chief innovation officer.
Image: Coca Cola consolidates two subsidiaries in Japan. Photo: Courtesy of tiverylucky/FreeDigitalPhotos.net.