Coca-Cola Enterprises CEO John R. Alm to Leave on January 1

Strategic Insights -

Coca-Cola Enterprises, Inc.'s president and CEO, John R. Alm, is stepping down on January 1, 2006, after a tenure of several years. Chairman Lowry F. Kline will serve as interim chief executive until a permanent replacement is found by the board of directors. Alm, 59, will stay on for up to six months to provide guidance during the transition. He has expressed interest in exploring opportunities with private equity firms and serving on other companies' boards of directors.

Key Takeaways:

  • John R. Alm, 59, will leave his position as president and CEO of Coca-Cola Enterprises on January 1, 2006.
  • Chairman Lowry F. Kline, 65, will serve as interim chief executive until a permanent replacement is found by the board of directors.
  • Alm will stay on for up to six months to provide advice during the transition.
  • Alm has expressed interest in joining a private equity firm as a partner or in an advisory role.
  • Coca-Cola Enterprises sells about 80% of Coca-Cola Co.'s bottle and can volume in North America.
  • Alm was previously president and chief operating officer of Coca-Cola Enterprises.
  • He was also the sole licensed bottler for Coca-Cola products in Mexico and certain parts of Europe.

Statistics:

  • 80% of Coca-Cola Co.'s (KO) bottle and can volume in North America is sold by Coca-Cola Enterprises.
  • Alm will be 59 years old on January 1, 2006.
  • Kline will be 65 years old on January 1, 2006.
  • Coca-Cola Enterprises is the sole licensed bottler for Coca-Cola products in Mexico and certain parts of Europe.
  • Alm has been in his current position since [date not specified in release].

Sources:

  • Dow Jones Commodities News via Comtex, "Coca-Cola Enterprises CEO to Leave on January 1", 2005
  • Dow Jones Newswires, "Coca-Cola Enterprises CEO to Leave on January 1", Judy Lam, 201-938-5400, 2005
  • Comtex SmarTrend(SM) Alert, "DOWNTREND on 09-08-2005 for CCE @ $20.32", [exact date not specified]
  • Comtex News Network, Inc., "DOWNTREND on 09-21-2005 for KO @ $42.38", [exact date not specified]