Why Coca-Cola's New Marketing Chief Can Make Sales Pop

Most investors will have glossed over the news that beverage giant Coca-Cola (NYSE: KO) has named Manuel Arroyo, president of the company's Asia Pacific Group, as its new chief marketing officer. It's not exactly the highest-profile role or a game-changing one. In fact, Coke did away with the CMO position altogether in 2017, inventing the position of chief growth officer who also handled strategy and operations.

The fact that the role is being reinstituted, however, speaks volumes about how seriously the organization now realizes it must take the matter of marketing. It deserves dedicated, focused direction. It may even have been primary rival PepsiCo (NASDAQ: PEP) that convinced Coca-Cola to reverse the change.

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Source Fool.com