Stoichkova will take leadership of scaling Coca-Cola's acquisitions and brands around the world, including Europe’s largest coffee chain, UK-based Costa Coffee
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Costa Coffee generates the lionshare of revenues for Coca-Cola's Global Ventures division | Photo credit: Costa Coffee
Coca-Cola's Global Ventures division will operate under new leadership in 2023 after the US beverage giant announced Evguenia Stoichkova as President.
Outgoing President Jennifer Mann was named as President of the Coca-Cola's North America operating unit in August 2022.
Mann had overseen Coca-Cola's Global Ventures division since 2019 after the US company acquired coffee chain Costa Coffee for £3.9bn ($4.8bn).
Most of Coca-Cola's Global Ventures division’s revenue is generated by Costa Coffee, with the organisation also responsible for the Monster beverages, Innocent juices and smoothies and Dogadan Tea brands.
Stoichkova currently serves as President of the company’s Eurasia & Middle East operating unit, a position she has held since 2021. Stoichkova begins her new role on 1 January 2023 and will report to President and Chief Financial Officer John Murphy.
In July 2022, Coca-Cola credited the continued recovery of the coffee chain in the UK, as well as the expansion of the brand globally, as positively impacting its 12% second-quarter rise in revenues. In the previous quarter Costa Coffee contributed to a 28% rise in revenues for its Global Ventures division.
Costa Coffee is Europe’s largest coffee chain, operating nearly 2,800 coffee shops in the UK and Ireland, and a further 1,100 internationally.