Category: Food & Beverage
The new CEO of Coca-Cola is keenly aware that the company’s future may depend more on other beverages like water, juices and tea — and not its classic soda brands.
“What’s got us to 130 years of success is not going to take us on the next 130 years,” Coke CEO James Quincey told CNN’s Poppy Harlow.
“As the world develops, as economies grow, as the world organizes, people still want to enjoy beverages. Actually each year, they spend more on beverages, but they want choice,” he added.
Quincey, who took over as CEO of Coke (KO) last May from long-time chief Muhtar Kent, spoke with Harlow for her latest Boss Files podcast. He said Coke needs to be more innovative and avoid complacency — even if that means missing the mark occasionally.
“We’ve got to try things. Not all of them will work. We don’t need to get too upset when we have failures. We need to learn, move on, and reinvent,” Quincey said.
Quincey said Coke may even start to look more like a technology company in some respects. Products need to get to market faster and tweaked after the fact so they get better. Think of how Apple (AAPL) and Google (GOOGL) roll out their iOS and Android updates.
“We’ve got to experiment, which means learning from the tech industry, the 1.0, the 2.0, the 3.0. Don’t make it perfect, get something out there, learn, and make it better,” Quincey said.
Read the full story at CNN.