Coca-Cola Names Waller Finance Chief as Fayard Retires

Coca-Cola Co. (KO) said Kathy Waller, vice president of finance and controller, will become chief financial officer, replacing Gary Fayard, who is retiring.

Waller, 55, joined Coca-Cola as a senior accountant in 1987, the Atlanta-based company said today in a statement. Fayard, who is 62 years-old and has been CFO since 1999, will retire in May.

Chief Executive Officer Muhtar Kent is leading the world’s largest soft-drink maker in a plan to cut $1 billion in costs by 2016 and plow the savings into marketing to help revive demand. Earlier this week, Coca-Cola shares had their biggest one-day decline in two months after the company posted fourth-quarter results that showed North American soft-drink demand is shrinking and growth in emerging markets was slowing.

Coca-Cola rose 0.6 percent to $37.30 at 1:52 p.m. in New York. The shares fell 10 percent this year through yesterday, compared with a 1.1 percent drop for the Standard & Poor’s 500 Index.

To contact the reporter on this story: Duane D. Stanford in Atlanta at

To contact the editor responsible for this story: Nick Turner at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.