The Coca-Cola Company announced key changes in top leadership, including the election of a new president and chief operating officer and a succession plan for the chief financial officer.

The board of directors has elected Brian Smith to serve as president and COO, effective Jan. 1, 2019. Smith joined the company in 1997. His prior roles include serving as president of both the Brazil and Mexico divisions before being named group president for Latin America. He is a 21-year Coca-Cola veteran and was named to his current position as group president of EMEA in 2016.

The appointment of a president and COO will allow Quincey, who has served as CEO since May 2017 and is a member of the board of directors, to focus on the overall long-term strategic direction and success of the company. 

John Murphy, who currently serves as president of the company’s Asia Pacific group, will become senior vice president and deputy CFO. He will be elevated to executive vice president and CFO in March 2019 following the retirement of Kathy Waller. Murphy will be responsible for leading the company’s global finance organization.

Waller currently serves as executive vice president, CFO and president of Enabling Services. She will depart the company after 32 years of service to Coca-Cola, where she built a career that was marked by significant impact and contributions.

The company also announced that Nancy Quan has been elected senior vice president and appointed Chief Technical Officer, effective Jan. 1, 2019, reporting to Quincey. She currently serves as a vice president for the company and Chief Technical Officer for Coca-Cola North America. Quan has worked for the company for 11 years.

Finally, Barry Simpson, who serves as senior vice president and CIO, is adding new duties that include oversight of portions of the company’s Enabling Services organization. Simpson will have the new title of senior vice president and Chief Information and Integrated Services Officer.