Umesh M. Kasbekar to Retire as Executive Vice Chairman from Coca-Cola Consolidated, Inc., Effective as of the Close of Business on July 5, 2020
March 06, 2020 at 04:21 pm EST
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On March 3, 2020, Umesh M. Kasbekar informed the Board of Directors of Coca-Cola Consolidated, Inc. that he will retire from his position as executive Vice Chairman of the Company, effective as of the close of business on July 5, 2020. Following his retirement, Mr. Kasbekar will remain a member of the Board and serve as non-executive Vice Chairman. In connection with his retirement, Mr. Kasbekar and the Company entered into a Consulting Agreement (the Agreement") on March 3, 2020 to provide continued access to Mr. Kasbekar's skills and experience with respect to the operation of the Company's business. Pursuant to the Agreement, Mr. Kasbekar has agreed to provide such advisory and consulting services as the Chairman and Chief Executive Officer of the Company may from time to time request in connection with significant Company matters, including key financial and strategic human resource matters (such as succession planning), and to assist with the collaboration and development of relationships with the Company's key strategic partners. Mr. Kasbekar will also continue to serve as a memberof the board of directors of certain of the Company's subsidiaries.
Coca-Cola Consolidated, Inc. distributes, markets and manufactures nonalcoholic beverages, primarily products of The Coca-Cola Company. The Company also distributes products for several other beverage companies, including Keurig Dr Pepper Inc. and Monster Energy Company. The Company offers a range of nonalcoholic beverage products and flavors, including both sparkling and still beverages. Sparkling beverages are carbonated beverages, and the Company's principal sparkling beverage is Coca-Cola. Its beverages include energy products and noncarbonated beverages such as bottled water, ready to drink tea, ready to drink coffee, enhanced water, juices and sports drinks. The Company's products are sold and distributed in the United States through various channels, which include selling directly to customers, including grocery stores, mass merchandise stores, club stores, convenience stores and drug stores, selling to on-premise locations, where products are typically consumed immediately.
COCA-COLA CONSOLIDATED, INC. 
