Coke Does A U-Turn And Brings Back Axed Global CMO Role
Global beverage company Coca-Cola has brought back its global CMO position, just two years after axing the role.
The president of Coke’s APAC business, Manolo Arroyo, has been appointed as the new CMO as part of a global restructure.
Arroyo will be responsible for the company’s creative, category, marketing operations, design and knowledge & insights.
Coca-Cola’s chairman and CEO James Quincey said the 180 was due to a change in consumer needs.
“We know consumer needs are changing faster and faster, and it is critical for the company to be agile in how it responds and adapts,” said Quincey.
“Manolo’s dual leadership over operations and marketing is a new structure for us, and we anticipate that it will evolve in the months ahead. Manolo’s focus will range from developing work that can be used around the globe to supporting local campaigns.”
When Coke scrapped its CMO role in 2017, it sparked a wave of similar restructures across a range of brands, including McDonald’s, Johnson & Johnson and Uber.
As the CMO role continues to change with tenures getting shorter and shorter, Coke re-appointing the position is an interesting one.
CMOs face the constant pressure of delivering standout results for brands and fast. And, when they don’t deliver, it’s often out with the new and in with the even newer.
And, as traditional marketing methods continue to become less effective in a cluttered and fragmented media-dominated world, it remains to be seen how Arroyo will handle his new role and make it his own.
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