Coca-Cola’s longest-serving board member steps down

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The Coca-Cola Company has announced its board member, Herbert A Allen, has retired as director, after 39 years of service.

Allen was the longest-serving current member of the company’s board of directors.

He stepped down on August 18, leaving 11 directors on the board.

READ MORE: Coca-Cola to ditch unrecycled plastic bottles

“On behalf of The Coca-Cola Company and its board of directors, I thank Herbert for his service,” The Coca-Cola Company chairman and chief executive James Quincey said.

“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.”

Allen joined the drinks giant’s board when the company was led by chairman and chief executive Roberto Goizueta. Allen went on to work with five other chairmen of the company, most recently Quincey.

Allen is president, chief executive and director of investment firm Allen & Co.

He said: “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.”

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