Hindustan Coca-Cola Beverages (HCCB), Coca-Cola‘s bottling arm has seen several senior leadership exits in the past few months.
What Happened: The series of exits come as media reports suggest that the bottling company is looking to sell off its India business. HCCB currently operates around 16 manufacturing plants in the country. It is looking to sell off all the 16 units. The company is reportedly looking to sell to several independent Indian bottlers or to a single company here or abroad.
As per an ET report, a dozen executives have exited the company in the past few months. The high-profile exits include Neil Comerford, executive director, of sales and commercial, Indrajeet Sengupta, executive director, human resources, Preeti Balwani general counsel, and chief public affairs and communications officer Kamlesh Sharma.
The developments come as competition in the Indian beverages market has intensified. With the arrival of Reliance’s Campa Cola in the market, beverage giants Coca-Cola and Pepsico have started feeling the heat. The arrival seems to have reignited the cola wars and has prompted the companies to revisit pricing and other strategies.
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