Stakeholders laud appointment of Nigerian as Coca-Cola CEO

Stakeholders laud appointment of Nigerian as Coca-Cola CEO

Corporate governance experts have commended the appointment of Alfred Olajide as the new Vice President (VP), and Managing Director (MD) of Coca-Cola Nigeria Franchise Operations.

His appointment followed a reorganization of The Coca-Cola Company’s global leadership structure.

Director-General and Chief Executive Officer, the Institute of Directors (IoD) Nigeria, Dele Alimi, who was elated about the development, said Nigerians had lost positions as CEOs and MDs of multinationals in the country.

He said Olajide’s appointment was a testimony to the fact that Nigerians are now seen as people who have the right governance structure, knowledge, and reputation to occupy top positions, and urged other multinationals to follow suit by placing more Nigerians on such top positions.

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He added: “We have had situations that after Nigerians leave such positions, we find out that nationalities of other after African countries are brought in to head such positions, which sends a wrong impression, especially when you realize that we have actually quite a number of multinationals that did that at the same time.

“Now that we’ve started having Nigerians returning to top positions in multinational companies, it is a good development. It also gives credence to organizations like the IoD Nigeria, who have had in the past few years emphasized on the importance of good corporate governance.”

Similarly, Principal, Franks Nominees Governance, Compliance, and Business Support Firm, Francis Olawale, while congratulating Olajide, urged him to prove himself through effective performance and deployment of his entrepreneurial skills.

Olawale advised that considering his position as manager of people, he should make the best of human resources at his disposal and get the best through effective leadership.

Speaking about his appointment, Olajide said: “These are very exciting times for the global Coca-Cola business, and I look forward to contributing my quota to a business I love so much, especially at such an interesting time as this. Nigeria is a huge market, and I am optimistic about the growth we can achieve together with our bottling partners”.
In August 2020, The Coca-Cola Company announced a global restructuring aimed at furthering the leading beverage company’s aspiration to emerge stronger amidst a fast-changing global business environment. The new structure sees its erstwhile 17 business units compressed into nine operating units focused on strategic local and regional business objectives supported by the company’s newly created Platform Services.

Announcing the change in structure, the company Chairman and CEO, James Quincey, noted that the changes in the company’s operating model would shift marketing to drive more growth and “put execution closer to customers and consumers while prioritizing a portfolio of strong brands.”

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A statement by the firm said Olajide brings several years of experience to bear in his new role, nine of which were at the Coca-Cola Company, having served in different capacities across the African continent, including Franchise Director for Cluster Markets in the Southern and Eastern Africa Region, Director of Revenue Growth Management in the East and Central Africa Region, and Strategy Head for Nigeria Franchise.