As per reports, the Coca-Cola Company (KO) today announced that Herbert A. Allen, 80 has retired as a director effective Aug. 18, stepping down after 39 years of service. Allen was the longest-serving current member of the company’s board of directors. Allen’s retirement brings down the Coca-Cola board to 11 directors.
“The greatest part of serving as a director has been meeting and getting to know a wide variety of people in the company. Whether bottlers, Coke employees, officers or company directors, virtually everyone has been part of an enriching experience. As a shareowner, I extend my appreciation and gratitude to all of you,” stated Allen.
Allen joined the Coca-Cola board when the company was under Chairman CEO Roberto Goizueta. Allen went on to work with five other chairmen of the company, most recently Quincey.
“On behalf of The Coca-Cola Company and its board of directors, I thank Herbert for his service. Herbert joined the board in 1982. Throughout the years, his counsel and sound judgment have guided company leadership through many evolutions. His positive impact on Coca-Cola will last far beyond his tenure on the board. We wish him all the best in the next chapter,” stated James Quincey, Chairman, and CEO of The Coca-Cola Company.
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