Top Coca-Cola Execs Discuss The Impact Of Culture Change On Innovation

At its recent investors day meeting, Coca-Cola CEO James Quincey and other top executives outlined for analysts how the company is changing its corporate culture to reflect shifts in consumer beverage and health trends. It is revamping e-commerce strategy, focusing on nutrition, and diversifying away from core soft drinks. Analysts were given examples of innovative international products in various markets and examples of incubating innovation and geographic scaling. Chief Growth Officer Francisco Crespo defined categories of innovation, including explorer brands (e.g., Honest Tea) that then graduate to challenger brands, and eventually to leader brands. Consumer-driven innovation is reflected in a growing presence in natural, craft, organic, and premium sparkling categories, and extension of the Coke brand to include Coca-Cola Coffee in Japan and Australia.