Woolworths finance director appointed as new Coca-Cola Amatil CFO
Food and beverage company Coca-Cola Amatil (CCA) has announced the appointment of Martyn Roberts as its new Chief Financial Officer (CFO).
An accomplished CFO with 20 years’ experience in senior finance roles, Mr Roberts joins CCA from Woolworths Australia where he has held various senior executive positions, most recently Finance Director – Supermarkets. He previously spent over 9 years as CFO with Louis Vuitton where he gained international experience in both Europe and Asia.
“I am delighted that Martyn will be joining the team at CCA,” said Alison Watkins, CCA’s Group Managing Director. “Martyn is a highly credentialed executive with broad experience in general management and in leading finance and corporate strategy, both in Australia and offshore. He has a strong track record of success in corporate finance, commercial management, strategy development and driving performance improvement,” she said.
Mr Roberts will start his new role as Group CFO during CCA’s third quarter.
Challenge to return CCA to growth
Mr Roberts is set to join CCA as the Company continues to implement a number of priorities it identified in a recent Strategic Review.
Australian Food News reported in February 2015 that CCA had announced a drop in trading revenue of 1.9 per cent to $4.9 billion, and a decrease in earnings before interest and tax (EBIT) of 21.8 per cent to $651.5 million for the year ended 31 December 2014. However, the Company said at the time that it was confident of a return to growth.
CCA’s Group Managing Director Alison Watkins said at the time that the Company’s earnings had come under “significant pressure in recent years driven by structural changes in the marketplace”.
The Company said its strategic review identified a number of priorities for the business with second half activities to be focused around commencing the rebalancing of pricing across channels, increasing the level of marketing spend to support brand equity building activities as well as implementing cost savings initiatives. In addition, the business has identified over $100 million in cost savings to be delivered progressively over the next three years.
Other recent leadership changes for CCA
In January 2015, Australian Food News reported that CCA had announced several senior management changes, with Nessa O’Sullivan, CCA Group CFO, and Peter Kelly, SPC Ardmona’s Managing Director, leaving their roles.
CCA is yet to announce a new Managing Director for SPC Ardmona.