The "power of partnerships" is a big part of the Coca-Cola Co. system, CEO Muhtar Kent says in this interview. Kent says partnerships with retail and technology partners and brands such as Keurig and Monster generate the most revenue and value for the company. Such partnerships also strengthen what Kent sees as the keys to enhancing beverage brands over the next 10 to 15 years: ready-to-drink, home technology and foodservice technology.
Despite flagging soda sales, Coca-Cola Co. CEO Muhtar Kent is undaunted in his efforts to bring profits back up. His strategies involve increasing marketing spending and overhauling the company's U.S. distribution network. The company has 14 billion-dollar beverage brands under its umbrella, and soda generates about 70% of Coca-Cola's revenue.
For the first time in 13 quarters, Coca-Cola posted a decline in North America volume, as soft drink consumption continues to decline and chilly weather dampened sales. "There was a coming together of many events that usually don't come together," said CEO and Chairman Muhtar Kent, who predicted better conditions in the second half of 2013.