Another Coca-Cola man for brewer Efes
Having already lost Muhtar Kent to The Coca-Cola Company and his successor Ahmet Boyacioglu to a well-deserved retirement, Efes Breweries International (EBI) announced that the supervisory board will propose to the Extraordinary General Meeting that Alejandro Jimenez be appointed as CEO.
The Turkish conglomerate Anadolu Efes owns 70.2 percent of EBI, which conducts brewing operations in southeastern Europe, Russia and Central Asia. In February 2007, EBI reported that its sales volume for the twelve month period ending 31 December 2006 increased to 11.7 million hl (excluding Turkey), delivering a 31 percent growth compared to the previous year. In 2006, EBI said, 73 percent of total sales volume were realised in Russia, while Moldova, Kazakhstan, Romania and Serbia contributed 10 percent, 8 percent, 5 percent and 4 percent respectively. In Russia, sales volume was up 44 percent in 2006 over the previous year, reaching 8.7 million hl beer.
Relations between Anadolu Efes and The Coca-Cola Company have traditionally been strong. Anadolu Efes holds a Coca-Cola licence. Only recently, EBI sold its Moldovan softdrinks brands to The Coca-Cola Company. When Muhtar Kent, who was a Coca-Cola veteran before he joined Anadolu Efes, was called back to Atlanta in late 2005, he was succeeded by Ahmet Boyacioglu, a long-serving Efes man.
Why EBI again choose to appoint a Coke man like Alejandro Jimenez, 56, who was born in Costa Rica and started his career in 1973 at The Coca-Cola Company, will probably soon become clearer.
Mr Jimenez has held various top management positions since 1981: as Region Director-Central America, Region Director-Caribbean, Vice President and Director of Marketing Operations-Latin America at The Coca-Cola Company. In 1991 and 1994, he became President, CEO of Panamco Mexico and President, COO and Member of the Board of Directors at Panamco, the largest Coca-Cola bottler in Latin America, respectively. Since 2001, he has been working as a Partner and Managing Director of DINESA Company, which is focused on consumer good products in Mexico, writes Efes.
Whether Mr Jimenez will live up to his shareholders’ expectations, only time will tell. At this stage however, Efes has to be applauded for setting a positive example against the contagious “yuf-cult” among CEOs in appointing Mr Jimenez. His age and background positively set him apart.
