Coca-Cola Enterprises CEO Retiring
ATLANTA (AP) _ Henry A. Schimberg, president and chief executive officer of Coca-Cola Co.’s largest bottler and distributor, announced Tuesday that he will retire at the end of the year.
Directors of Atlanta-based Coca-Cola Enterprises Inc. elected John R. Alm as chief operating officer, a position previously held by Schimberg but left vacant after he became CEO. Alm will become president on Jan. 1, 2000, a day after Schimberg’s retirement becomes effective.
Chairman and former CEO Summerfield K. Johnston Jr. will become interim CEO until a permanent replacement is found, the company said. Schimberg will remain on the board.
Coca-Cola Enterprises is the world’s largest distributor of Coke products. Coca-Cola Co., the soft-drink market leader, owns a 40 percent stake in the distributing company.
Schimberg said his retirement comes earlier than anticipated because of his faith in current management.