Coca-Cola India awaits new CFO

Coca-Cola India will have a new Chief Financial Officer soon.

According to a release issued by Coca-Cola India, the changes to strengthen the finance team of the soft drinks major had been announced internally a month ago, when the present CFO Mark Roddy finished his tenure. Roddy is expected to move out in September this year.

Roddy's replacement will be announced from Coca-Cola's Atlanta headquarters in due course, since this is a senior level appointment, the release added.

The changes in the finance team also involves sending people such as V-P, finance - bottling operations, Sanjeev Kumar to Atlanta. Kumar will be executive assistant to Irial Finan, president of Coke's bottling investments.

Coca-Cola is also getting people, who have been working overseas, such as director finance Ravi Prakash back into the Indian operations. Prakash, who was with Coca-Cola at Zurich, has joined as director – finance.

Some managers such as Gaurav Duggal and Sunil Gupta have been given enhanced roles. Both of them have been promoted to the rank of deputy chief financial officers for the bottling operations.

“The company is fully Sarbanes-Oxley compliant, confirmed both by internal and external auditors as December 31, 2004. The company regularly conducts internal audits of its operations, including financial and environmental audits,” the statement said.

The release added that Sanjiv Gupta continued to be the division president, and that Irial Finan and Patrick Siewert were not visiting India at this point in time.

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