Introduction of the COCA COLA company

Coca-Cola, the product that has given the world its best-known taste was born in Atlanta, Georgia, on
May 8, 1886. Coca-Cola Company is the world's leading manufacturer, marketer and distributor of non-
alcoholic beverage concentrates and syrups, used to produce nearly 400 beverage brands. It sells beverage
concentrates and syrups to bottling and canning operators, distributors, fountain retailers and fountain
wholesalers. The Company's beverage products comprises of bottled and canned soft drinks as well as
concentrates, syrups and not ready-to-drink powder products. In addition to this, it also produces and markets
sports drinks, tea and coffee. The Coca-Cola Company began building its global network in the 1920s. Now
operating in more than 200 countries and producing nearly 400 brands, the Coca Cola system has
successfully applied a simple formula on a global scale: "Provide a moment of refreshment for a small
amount of money- a billion times a day."

The Coca-Cola Company and its network of bottlers comprise the most sophisticated and pervasive
production and distribution system in the world. More than anything, that system is dedicated to people
working long and hard to sell the products manufactured by the Company. This unique worldwide system
has made The Coca-Cola Company the world's premier soft-drink enterprise. From Boston to Beijing, from
Montreal to Moscow, Coca-Cola, more than any other consumer product, has brought pleasure to thirsty
consumers around the globe. For more than 115 years, Coca-Cola has created a special moment of pleasure
for hundreds of millions of people every day.

The Company aims at increasing shareowner value over time. It accomplishes this by working with
its business partners to deliver satisfaction and value to consumers through a worldwide system of superior
brands and services, thus increasing brand equity on a global basis. They aim at managing their business well
with people who are strongly committed to the Company values and culture and providing an appropriately
controlled environment, to meet business goals and objectives. The associates of this Company jointly take
responsibility to ensure compliance with the framework of policies and protect the Company's assets and
resources whilst limiting business risks.

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CHAPTER – 1

ENTERPRISE HISTORY AND

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BACKGROUND

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HISTORY

The Coca-Cola Company, American corporation founded in 1892 and today engaged primarily in the
manufacture and sale of syrup and concentrate for Coca-Cola, a sweetened carbonated beverage that is a
cultural institution in the United States and a global symbol of American tastes. The company also produces
and sells other soft drinks and citrus beverages. With more than 2,800 products available in more than 200
countries, Coca-Cola is the largest beverage manufacturer and distributor in the world and one of the largest
corporations in the United States. Headquarters are in Atlanta, Georgia.

The drink Coca-Cola was originated in 1886 by an Atlanta pharmacist, John S. Pemberton (1831–88),
at his Pemberton Chemical Company. His bookkeeper, Frank Robinson, chose the name for the drink and
penned it in the flowing script that became the Coca-Cola trademark. Pemberton originally touted his drink
as a tonic for most common ailments, basing it on cocaine from the coca leaf and caffeine-rich extracts of the
kola nut; the coc2aine was removed from Coca-Cola’s formula in about 1903. Pemberton sold his syrup to
local soda fountains, and, with advertising, the drink became phenomenally successful. By 1891 another
Atlanta pharmacist, Asa Griggs Candler (1851–1929), had secured complete ownership of the business (for a
total cash outlay of $2,300 and the exchange of some proprietary rights), and he incorporated the Coca-Cola
Company the following year. The trademark “Coca-Cola” was registered in the U.S. Patent Office in 1893.

Under Candler’s leadership, sales rose from about 9,000 gallons of syrup in 1890 to 370,877 gallons
in 1900. Also during that decade, syrup-making plants were established in Dallas, Los Angeles, and
Philadelphia, and the product came to be sold in every U.S. state and sterritory as well as in Canada. In 1899
the Coca-Cola Company signed its first agreement with an independent bottling company, which was
allowed to buy the syrup and produce, bottle, and distribute the Coca-Cola drink. Such licensing agreements
formed the basis of a unique distribution system that now characterizes most of the American soft-drink
industry. Capitalized at $100,000 in 1892 upon incorporation, the Coca-Cola Company was sold in 1919 for
$25 million to a group of investors led by Atlanta businessman Ernest Woodruff. His son, Robert Winship
Woodruff, guided the company as president and chairman for more than three decades (1923–55).

The post-World War II years saw diversification in the packaging of Coca-Cola and the development
or acquisition of new products. The trademark “Coke,” first used in advertising in 1941, was registered in
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1945. In 1946 the company purchased rights to Fanta, a soft drink previously developed in Germany. The
contoured Coca-Cola bottle, first introduced in 1916, was registered in 1960. The company also introduced
the lemon-lime drink Sprite in 1961 and its first diet cola, sugar-free Tab, in 1963. With its purchase of
Minute Maid Corporation in 1960, the company entered the citrus juice market. It added the brand Fresca in
1966.

In 1978 Coca-Cola became the only company allowed to sell cold packaged beverages in the
People’s Republic of China. In 1982 the company introduced its low-calorie sugar-free soft drink Diet Coke
(originally named Diet Coca-Cola). In an effort to address its decline in market share, the company adopted a
new flavour of Coca-Cola in April 1985, using a formula it developed through taste tests. New Coke was not
well received, however. Owing to the public outcry, Coca-Cola revived its original flavour in July, which
was then marketed as Coca-Cola Classic. From 1982 to 1989 the company held a controlling interest in
Columbia Pictures Industries, Inc., a motion-picture and entertainment company.

New markets opened up for Coca-Cola in the early 1990s; the company began selling products in
East Germany in 1990 and in India in 1993. In 1992 the company introduced its first bottle made partially
from recycled plastic—a major innovation in the industry at the time. Coca-Cola created many new
beverages during the 1990s, including the Asia-marketed Qoo children’s fruit drink, Powerade sports drink,
and Dasani bottled water. Coca-Cola also acquired Barq’s root beer in the United States; Inca Kola in Peru;
Maaza, Thums Up, and Limca in India; and Cadbury Schweppes beverages, which were sold in more than
120 countries across the globe.

the early 2000s Coca-Cola faced allegations of illegal soil and water pollution, as well as allegations
of severe human rights violations. In 2001 the United Steelworkers of America and the International Labor
Rights Fund (ILRF) filed a lawsuit against Coca-Cola and Bebidas y Alimentos and Panamerican Beverages,
Inc. (also known as Panamco LLC; the primary bottlers of Coca-Cola’s beverages in Latin America),
claiming that the defendants had openly engaged so-called “death squads” to intimidate, torture, kidnap, and
even murder union officials in Latin America. The controversy gained worldwide attention and led several
American universities to ban the sale of Coca-Cola products on their campuses. The lawsuit was eventually
dismissed.

In 2005 the company introduced Coca-Cola Zero, a zero-calorie soft drink with the taste of regular
Coca-Cola. In 2007 the company acquired Energy Brands, Inc., along with its variously enhanced waters.
That same year Coca-Cola announced that it would join the Business Leaders Initiative on Human Rights
(BLIHR), a group of companies working together to develop and implement corporate responses to human
rights issues that affect the business world

Coca-Cola acquired Minute Maid in 1960 for an undisclosed amount. In 1982, it acquired the movie
studio Columbia Pictures for $692 million. Coca-Cola sold Columbia to Sony for $3 billion in 1989. In 1986,
Coke sold off two assets, namely Presto Products and Winker-Flexible Products to an investment group led
by E.O. Gaylord for $38 million.[14]

The company acquired the Indian cola brand Thums Up in 1993,[15] and Barq's in 1995.[16] In 1999,
Coca-Cola purchased 50% of the shares of Inca Kola for $200 million, subsequently taking control of
overseas marketing and production for the brand. In 2001, it acquired the Odwalla brand of fruit juices,
smoothies, and bars for $181 million. It announced Odwalla's discontinuation in 2020. In 2007, it acquired
Fuze Beverage from founder Lance Collins and Castanea Partners for an estimated $250 million.

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The company's 2009 bid to buy Chinese juice maker Huiyuan Juice Group ended when China
rejected its $2.4 billion bid, on the grounds the resulting company would be a virtual monopoly. Nationalism
was also thought to be a reason for aborting the deal.

In 2011, it acquired the remaining stake in Honest Tea, having bought a 40% stake in 2008 for $43
million.In 2013, it finalized its purchase of ZICO, a coconut water company. In August 2014, it acquired a
16.7% (currently 19.36% due to stock buy backs) stake in Monster Beverage for $2.15 billion with an option
to increase it to 25%, as part of a long-term strategic partnership that includes marketing and distribution
alliance, and product line swap. In 2015, the company took a minority stake ownership in the cold pressed
juice manufacturer, Suja Life LLC. In December 2016, it bought many of the former SABMiller's Coca-Cola
operations.[32] The Coca-Cola Company owns a 68.3% stake in Coca-Cola Bottlers Africa. Coca-Cola
Bottlers Africa's headquarters located in Port Elizabeth South Africa.

The Coca-Cola Company acquired a 40% stake in Chi Ltd on January 30, 2016. The Coca-Cola
Company acquired the remaining 60% stake in Chi Ltd on January 30, 2019.

In 2017, The Coca-Cola Company acquired Mexican sparkling water brand Topo Chico.

On August 31, 2018, it agreed to acquire Costa Coffee from Whitbread for £3.9bn. The acquisition
closed on January 3, 2019. During August 2018, The Coca-Cola Company acquired Moxie for an
undisclosed amount.On August 14, 2018, The Coca-Cola Company announced a minority interest in Body
Armor. On September 19, 2018, The Coca-Cola Company acquired Organic & Raw Trading Co. Pty Ltd the
manufacturer of MOJO Kombucha in Willunga, Australia.

On October 5, 2018, The Coca-Cola Company acquired a 22.5% stake in MADE Group from the
company's three founders: Luke Marget, Matt Dennis, and Brad Wilson. The Coca-Cola Company owns a
30.8% stake in Coca-Cola Amatil Ltd; therefore, The Coca-Cola Company owns a further 6.93% stake in
MADE Group through its ownership stake in Coca-Cola Amatil Ltd.

Sponsorship
Coca-Cola sponsored the English Football League from the beginning of the 2004–05 season
(beginning August 2004) to the start of 2010–11 season, when the Football League replaced it with NPower.
Coca-Cola sponsored the Coca-Cola Football Camp, that took place in Pretoria, South Africa during the
2010 FIFA World Cup

In 2017, Major League Baseball signed a multi-year deal with Coca-Cola to be the official soft
drink, replacing Pepsi
The company sponsored the popular Fox singing-competition series American Idol from 2002 until
2014.

Coca-Cola was a sponsor of the nightly talk show on PBS, Charlie Rose in the US.[129]

Coca-Cola is also an executive producer of Coke Studio (Pakistan). It was a franchising that started in
Brazil, broadcast by MTV Brasil and there are various adaptations of Coke Studio such as Coke Studio
(India) and Coke Studio (Africa).

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COCA COLA BRANDS

1)Other soft drinks

The Coca-Cola Company also produces a number of other soft drinks including Fanta (introduced
circa 1941) and Sprite. Fanta's origins date back to World War II during a trade embargo against Germany on
cola syrup, making it impossible to sell Coca-Cola in Germany. Max Keith, the head of Coca-Cola's German
office during the war, decided to create a new product for the German market, made only from products
available in Germany at the time, which they named Fanta.[88] The drink proved to be a hit, and when Coke
took over again after the war, it adopted the Fanta brand as well. Fanta was originally an orange-flavored soft
drink that can come in plastic bottles or cans. It has become available in many different flavors now such as
grape, peach, grapefruit, apple, pineapple, and strawberry.

In 1961, Coca-Cola introduced Sprite, a lemon-lime soft drink, another of the company's bestsellers
and its response to 7 Up.

2) BreakMate

No longer manufactured, the Coca-Cola BreakMate was a three-flavor dispenser introduced by

Coca-Cola and Siemens in 1988. Intended for use in offices with five to fifty people,[91] its refrigerated
compartment held three individual one-litre plastic containers of soda syrup and a CO2 tank. Like a soda
fountain, it mixed syrup in a 1:5 ratio with carbonated water. In North America, Coca-Cola discontinued
spare BreakMate parts in 2007 and stopped distributing the syrup in 2010

3) Healthy beverages

During the 1990s, the company responded to the growing consumer interest in healthy beverages by
introducing several new non-carbonated beverage brands. These included Minute Maid Juices to Go,
Powerade sports beverage, flavored tea Nestea (in a joint venture with Nestlé), Fruitopia fruit drink, and
Dasani water, among others. In 2001, the Minute Maid division launched the Simply Orange brand of juices
including orange juice. In 2016, Coca-Cola India introduced Vio to enter into the value-added dairy category.
The product lays the foundation for Coca-Cola's new segment after carbonated beverages, water and juices.
[93]

In 2004, perhaps in response to the burgeoning popularity of low-carbohydrate diets such as the
Atkins diet, Coca-Cola announced its intention to develop and sell a low-carbohydrate alternative to Coke
Classic, dubbed C2 Cola. C2 contains a mix of high fructose corn syrup, aspartame, sucralose, and
Acesulfame potassium. C2 is designed to more closely emulate the taste of Coca-Cola Classic. Even with
less than half of the food energy and carbohydrates of standard soft drinks, C2 is not a replacement for zero-
calorie soft drinks such as Diet Coke. C2 went on sale in the U.S. on June 11, 2004, and in Canada in August
2004; it was replaced in 2013 by Coca-Cola Life.

4) Green tea

The company announced a new "negative calorie" green tea drink, Enviga, in 2006, along with trying
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coffee retail concepts Far Coast and Chaqwa.

5) Caffeine-Free Coca-Cola (1983–present)

Coca-Cola without the caffeine.

6) Coca-Cola Cherry (1985–present)

Coca-Cola with a cherry flavor. Was available in Canada starting in 1996. Originally marketed as
Cherry Coke (Cherry Coca-Cola) in North America until 2006.

7) New Coke / Coca-Cola II (1985–2002)

An unpopular formula change, remained after the original formula quickly returned and was later
rebranded as Coca-Cola II until its full discontinuation in 2002. In 2019, New Coke was re-introduced to the
market to promote the third season of the Netflix original series, Strange Things.

8) Golden Coca Cola (2001)

Golden Coca-Cola was a limited edition produced by Beijing Coca-Cola company to

celebrate Beijing's successful bid to host the Olympics.

9) Coca-Cola with Lemon (2001–05)

Coca-Cola with a lemon flavor. Available in: Australia, American Samoa, Austria, Belgium, Brazil,
China, Denmark, Federation of Bosnia and Herzegovina, Finland, France, Germany, Hong Kong, Iceland,
Korea, Luxembourg, Macau, Malaysia, Mongolia, Netherlands, New Caledonia, New Zealand, Réunion,
Singapore, Spain, Switzerland, Taiwan, Tunisia, United Kingdom, United States and West Bank-Gaza

10) Coca-Cola Vanilla (2002–05; 2007–present)

Coca-Cola with a vanilla flavor. Available in: Austria, Australia, China, Czech Republic, Canada,
Finland, France, Germany, Hong Kong, New Zealand, Malaysia, Slovakia, South-Africa, Sweden,
Switzerland, United Kingdom and United States. It was reintroduced in June 2007 by popular demand.

11) Coca-Cola with Lime (2005–present)

Coca-Cola with a lime flavor. Available in Belgium, Lithuania, Netherlands, Singapore, Canada, the
United Kingdom, and the United States.

12) Coca-Cola Raspberry (2005; 2009–present)

Coca-Cola with a raspberry flavor. Originally only available in New Zealand. Available in: Australia,

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United States, and the United Kingdom in Coca-Cola Freestyle fountain since 2009.

13) Coca-Cola Black Cherry Vanilla (2006–07)

Coca-Cola with a combination of black cherry and vanilla flavor. It replaced and was replaced by
Vanilla Coke in June 2007.

14) Coca-Cola Blāk (2006–08)

Coca-Cola with a rich coffee flavor, formula depends on the country. Only available in the United
States, France, Canada, Czech Republic, Bosnia and Herzegovina, Bulgaria and Lithuania

15) Coca-Cola Citra (2005–present)

Coca-Cola with a citrus flavor. Only available in Bosnia and Herzegovina[citation needed], New
Zealand, and Japan.

16) Coca-Cola Orange (2007)

Coca-Cola with an orange flavor. Was available in the United Kingdom and Gibraltar for a limited
time. In Germany, Austria, and Switzerland it is sold under the label Mezzo Mix. Currently available in
Coca-Cola Freestyle fountain outlets in the United States since 2009 and in the United Kingdom since 2014.

17) Coca-Cola Life (2013–2020)

A version of Coca-Cola with stevia and sugar as sweeteners rather than simply sugar.

18) Coca-Cola Ginger (2016–present)

A version that mixes in the taste of ginger beer. Available in Australia, New Zealand, and as a limited
edition in Vietnam.

19) Coca-Cola Orange Vanilla (2019–2021)

Coca-Cola with an orange vanilla flavor (intended to imitate the flavor of an orange. Made available
nationwide in the United States on February 25, 2019.

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Criticism
Since the early 2000s, the criticisms over the use of Coca-Cola products as well as the company
itself, escalated with concerns over health effects, environmental issues, animal testing, economic business
practices and employee issues.The Coca-Cola Company has been faced with multiple lawsuits concerning
these various criticisms.
The Coca-Cola Company is the world's largest producer of plastic waste, for two years in
a row. producing over 3 million tonnes of plastic packaging each year including 110 billion plastic bottles.
The company's global chief executive has admitted that Coca-Cola has no plans to reduce its use of plastic
bottles; in fact, the company has "quietly fought efforts" to reduce the amount of plastic waste it creates,
partly by opposing bottle bill legislation. The head of sustainability Bea Perez has said they will continue to
use plastic, claiming "customers like them because they reseal and are lightweight".

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ORGANIZATION
An organizational structure describes how activities are coordinated, allocated and supervised so as to
achieve the goals and objectives of an organization. The structure defines how an organization exercises

authority through allocation of management responsibilities. By so doing, the organization benefits in

two major ways. First, the structure helps in setting a standard procedure that guides operations and routines.
Second, it determines how each and every employee participates in the decision making process and how
their views help in shaping the organization. Nonetheless, Amaral and Uzzi, (2007) notes that organizational
structures are varied between different organizations depending on several factors. The organizational
functions; finance, marketing, operations and human resource are likely to influence

the organizational structure while also organizational design, for instance functional, product,
geographic, customer based, hybrid, service, matrix, departmentalization and marketing channel impact on
the determination of a structure that best suits the needs of these organization.

The practicality of these assertions is made evident with the selection of Coca-Cola Company. This
company operates as a multi-national dealing in the manufacture, marketing and distribution of non alcoholic
beverages. The company sustains a large supply chain spanning 200 countries while serving more than 1.6
billion customer every day (Stevenson, 2009). The board of directors are based at headquarter in Atlanta,
Georgia. The organizational structure for Coca-Cola is designed in such a way so as to suit the changing
needs of the customers. It uses a decentralized system of management, which divided into two operating
groups; the Bottling Corporate and Bottling Investment. The operating groups are further divided to match
the different regions within which the company operates. These regions include; Africa, Eurasia, Latin
America, European Union, the Pacific and North America. These regions are again divided into geographic
regions so as to allow for localized decision making. The adoption of the decentralized organizational
structure gives mandate to the local managers as well as the regional managers to make decisions on behalf
of the overall managers based at the

headquarter (Borgatti & Foster, 2013). This process facilitates decision making because these
regional and local managers can make decisions with urgency so as to match up to the changes in the market
demands. On the other hand, the higher-level management based at the headquarter get the time to focus on
long term planning for the organization while simultaneously reviewing the decisions made by the local and
regional managers.

Within the regional offices are corporate divisions such as human resources, finance, innovation,
research and development, strategy and planning and marketing departments. The managers of these
departments are given powers to operate autonomously. Their decision making is guided by the vision and
mission of the company thus their decisions, in spite of their being made at a local level, have to be in line
with those made by the top hierarchy. An example is exhibited when the corporate management based at the
headquarters made the decision to sponsor the 2002 World Cup (Stevenson, 2009). Inclusion was practiced
when the company allowed the regional managers to manage the advertisement decisions for their local
divisions. By so doing, the regional managers designed marketing and promotional campaigns that were
appealing to their local audiences and customers. It is also notable that when the organization is faced by a
problem such as low growth rate, the top management at headquarter is involved in seeking a long standing
solution. Their decisions are often guided by reports made by the local managers who meet in face to face
meetings with the local employees and discuss on the possible solutions. By so doing, Coca-Cola Company
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portrays itself as a company that is more customer oriented.

The company also has an intranet system that facilitates real time communication between the
managers thus facilitating sharing of information across the organizational structure. By so doing, Coca Cola
Company has managed to balance between mutual adjustments and standardization of the workforce.
Additionally, the actions of the employees are guided by the Code of Conduct, which gives employees
flexibility while retaining their focus to the common organizational From these illustrations, it is evident that
Coca-Cola Company employs the use of a hybrid organizational structure that combines both organic and
mechanic models. The hybrid system allows for the flow of information from bottom-up and laterally
between the employees.

(Stevenson, 2009) On the other hand, decentralization and standardization are components of a
mechanistic structure. The blending of these two is important considering the large customer base as well as
providing coordination among the 94,800 employees.

The hybrid organizational structure employed at Coca-Cola Company can be contrasted with two
different organizational structure. These two structures are functional and divisional structures which are
applied in different companies based on the desired outcome. To begin with the functional organizational
structure, it mainly consist of task allocation, supervision and coordination activities and it organizes people
according to their functions (Lim & Sambrook, 2010). The structure is suited towards coordinating
production, accounting, human resource and marketing functions. Functional structures often lead to
operational efficiently as employees are made to specialize on functions they are best suited. Coca-Cola
Company cannot implement this structure because it provides a rigid communication channel, which slows
down decision making. This structure is best suited to small organizations that produce standardized goods.
Comparing the structural organization structure to the hybrid structure used at Coca-Cola shows that a
combination of organic and mechanic structure could be better suited towards managing multi-national
organizations because of the increased communication between the various departments, the employees and
the top-most management. In contrast, whereas functional structure could result into disagreements for large
organizations, it could be enhance coordination of employees when applied to small firms.

The second organizational structure that will be compared and contrasted against the hybrid structure
used at Coca-Cola Company is the matrix organizational structure (Burt, 2012). This structure divides the
employees based on the products of the firm as well as their functions. A matrix structure combines teams of
employees rather than individuals as seen in the functional structure. By so doing, the organization takes
advantage of group work and exploits their strengths while making up for their individual weaknesses that
are common among functional and decentralized structures. The matrix structure provides a pure
organizational structure that ensures control while at the same time regulating the activities of the employees
(Jacobides, 2007). It is best applied at Google organization where the employees work together in developing
new computer programs. The system is therefore suited to the service industry but it could be perfectly
applied to Coca-Cola Company. It is recommended that a multi-divisional structure would be best suited
when applied to Coca-Cola Company as it would increase coordination between the divisional level and
corporate level managers and this will enhance decision making.

Apparently, organizational functions such as production, accounting, human resource and marketing
functions are seen to influence the selection of the hybrid organizational structure applied to the Coca-Cola
Company. More so, this is seen in the decision to create five hierarchical levels to suit the diverse needs of
the managers at the corporate level (Cogliser & Schriesheim, 2010). It is because of the rising need to
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coordinate the functions between these organizational functions that Coca-Cola Company is striving to
adhere to the hybrid structure which combines both mechanistic and organic structures. By so doing, the
company enjoys the advantages organic and mechanistic structures thus reducing on the disadvantages that
could result from sticking to either the mechanistic or organic structures. As a result, Coca-Cola has realized
an increase in their sales and revenues while the employees have remained motivated and satisfied.
Furthermore, the example of Coca-Cola presents evidence that the organizational design is varied depending
on the functions, geographic coverage, customer base, type of product or service, marketing channels and
departmentalization. These factors influence the needs of the employees, the management and the customers
thus creating a need to implement an organizational structure that promotes inclusiveness so as to increase
the chances of success.

Specifically, Coca-Cola Company appreciates that a divisional structure will give the organization a
chance to operate in uncertain global environment. Dividing the global market into regions allows the
company to meet the diverse needs of its customers (Dansereau, Graen & Haga, 2010). For example, the
marketing campaigns need to be localized to suit specific geographic locations. Again, the decentralization of
the organization structure allows for the proper functioning of the corporate ad regional/local managers as
they can focus on specific organizational functions. From these illustrations, it is made apt that
organizational design is influence by either geographic, functional, customer-based, product, service, hybrid,
matrix, marketing channels or departmentalization factors.

13
Governance

Corporate Governance Guidelines

The Board of Directors of The Coca-Cola Company has adopted the following guidelines in
furtherance of its continuing efforts to enhance its corporate governance. The Board will review and amend
these guidelines as it deems necessary and appropriate.

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1. Board Mission and Director Responsibilities.

The Board is elected by the shareowners to oversee their interest in the long-term health and the overall
success of the business and its financial strength. The Board serves as the ultimate decision-making body of
the Company, except for those matters reserved to or shared with the shareowners. The Board selects and
oversees the members of senior management, who are charged by the Board with conducting the business of
the Company.

The core responsibility of the Directors is to exercise their business judgment to act in what they reasonably
believe to be in the best interests of the Company and its shareowners. Directors must fulfill their
responsibilities consistent with their fiduciary duties to the shareowners, in compliance with all applicable
laws and regulations. Directors will also, as appropriate, take into consideration the interests of other
stakeholders, including employees and the members of communities in which the Company operates.

The Board provides advice and counsel to the Chief Executive Officer and other senior officers of the
Company. The Board oversees the proper safeguarding of the assets of the Company, the maintenance of
appropriate financial and other internal controls and the Company's compliance with applicable laws and
regulations and proper governance.

In discharging their duties, Directors may rely on the Company's senior executives and outside advisors and
auditors. Accordingly, skill and integrity will be important factors in selection of the Company's senior
executives and other advisors. The Board has the authority to hire independent legal, financial or other
advisors as they may deem necessary.

Directors are expected to attend all meetings of the Board and of the Committees on which they serve.
Directors should devote the time and effort necessary to fulfill their responsibilities. Information important to
Directors' understanding of issues to come before the Board or a Committee will be provided sufficiently in
advance of meetings to permit Directors to inform themselves. Directors are expected to review these
materials before meetings.

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The Board will hold regularly scheduled meetings at least five times a year. The Chairman of the Board will
set the agenda for Board meetings. Any Director may suggest items for inclusion on the agenda. Any
Director may raise a subject that is not on the agenda at any meeting. Certain items pertinent to the oversight
and monitoring function of the Board will be brought to the Board regularly. The Board will review the
Company's long-term strategic plans and the most significant financial, accounting and risk management
issues facing the Company at least one Board meeting each year.

Non-management Directors will meet in regular executive sessions. Normally, such meetings will occur
during regularly scheduled Board meetings. Meetings of the non-management Directors will be chaired by
the Lead Independent Director.

2. Board Leadership

The Board believes that whether to have the same person occupy the offices of Chairman of the Board and
Chief Executive Officer should be decided by the Board, from time to time, in its business judgment after
considering relevant factors, including the specific needs of the business and what is in the best interests of
the Company’s shareowners.
At least one executive session of the non-management Directors each year will include a review of the
Board’s leadership structure and consideration of whether the position of Chairman of the Board should be
held by the Chief Executive Officer or be separated. In addition, in connection with the selection of a new
Chief Executive Officer, the Board shall consider the leadership position the Company should have (e.g.,
Chairman of the Board, Lead Independent Director and Chief Executive Officer). A description of the
Board’s rationale for choosing its leadership structure shall be included in the Company’s proxy statement
related to its annual meeting of shareowners.

The Board of Directors annually elects one of its members to serve as Chairman of the Board. The Chairman
of the Board shall preside at all meetings of the Board and the shareowners, and shall perform such other
duties, and exercise such powers, as prescribed in the By-Laws or by the Board from time to time.

If the individual elected as Chairman of the Board is the Chief Executive Officer, or if the Chairman of the
Board is not independent, the Board believes that a Lead Independent Director should be appointed to help
ensure robust independent leadership on the Board. When this is the case, the independent Directors shall
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elect a Lead Independent Director for a one-year term. Although annually elected, the Lead Independent
Director is generally expected to serve for more than one year. The Lead Independent Director may, but need
not be, the chair of the Committee on Directors and Corporate Governance.

The Lead Independent Director shall:

(i) Preside at all meetings of the Board at which the Chairman of the Board is not present, including all
meetings of independent Directors and non-employee Directors;

(ii) Encourage and facilitate active participation of all Directors;

(iii) Serve as a liaison between the independent Directors and the Chairman of the Board on sensitive issues
and otherwise when appropriate;

(iv) Approve Board meeting materials for distribution to and consideration by the Board;

(v) Approve Board meeting agendas after conferring with the Chairman of the Board and other members of
the Board, as appropriate, and may add agenda items in his or her discretion;

(vi) Approve Board meeting schedules to assure that there is sufficient time for discussion of all agenda
items;

(vii) Have the authority to call meetings of the independent Directors;

(viii) Lead the Board’s annual evaluation of the Chairman of the Board and the Chief Executive Officer;

(ix) Monitor and coordinate with management on corporate governance issues and developments.

(x) Be available to advise the Committee chairs in fulfilling their designated roles and responsibilities to the
Board;

(x) Be available for consultation and communication with shareowners where appropriate, upon reasonable
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request (this does not preclude other Directors from being available for consultation and communicating with
shareowners, where appropriate); and

(xi) Perform such other functions as the Board or other Directors may request.

Agendas, schedules, and information distributed for meetings of Board Committees are the responsibility of
the respective Committee Chairs. All Directors may request agenda items, additional information, and/or
modifications to schedules as they deem appropriate, both for the Board and the Committees on which they
serve, and they are encouraged to do so.

3. Director Qualifications.

Directors may be nominated by the Board or by shareowners in accordance with the By Laws. The
Committee on Directors and Corporate Governance will review all nominees for the Board, including
proposed nominees of shareowners, in accordance with its charter. The assessment will include a review of
the nominee's judgment, experience, independence, understanding of the Company's or other related
industries, and such other factors as the Committee concludes are pertinent in light of the current needs of the
Board. The Board believes that its membership should reflect a diversity of experience, gender, race,
ethnicity and age. The Committee will select qualified nominees and review its recommendations with the
Board, which will decide whether to invite the nominee to join the Board. The Chairman of the Board should
extend the Board's invitation to join the Board. The Board will require that nominees become shareowners of
the Company prior to the solicitation of proxies for their election.

4. Director Term and Tenure.

In accordance with the By-Laws, Directors are elected for a term of one year. The Board does not believe
that it should establish limits on the number of terms a Director may serve. Term limits may cause the loss of
experience and expertise important to the optimal operation of the Board. Directors who have served on the
Board for an extended period of time can provide valuable insight into the operations and future of the
Company based on their experience with and understanding of the Company’s history and objections.
However, to ensure that the Board continues to evolve and remains composed of high functioning members
able to keep their commitments to Board service, the Committee on Directors and Corporate Governance
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will evaluate the qualifications and performance of each incumbent Director before recommending the
nomination of that Director for an additional term.

The Board expects that when an executive who serves on the Board resigns from his or her executive
position, he or she will also simultaneously submit his or her resignation from the Board. Whether the
individual continues to serve on the Board is a matter for discussion at that time with the Board.

It is the sense of the Board that individual Directors who change the responsibility they held when elected to
the Board or who should reach the age of 74 should submit a letter of resignation to the Board to be effective
on acceptance by the Board. These letters of resignation will be considered by the Board and, if applicable,
annually thereafter.

5. Determination of Independence.

The Board shall consist of a majority of independent Directors. In making independence determinations, the
Board will observe all applicable requirements, including the corporate governance listing standards
established by the New York Stock Exchange ("NYSE"). The Board will carefully consider all relevant facts
and circumstances in making an independence determination.

To be considered "independent" for purposes of the Director qualification standards, (1) the Director must
meet the bright-line independence standards under the NYSE listing standards, and (2) the Board must
affirmatively determine that the Director otherwise has no material relationship with the Company, directly
or as an officer, shareowner or partner of an organization that has a relationship with the Company. In each
case, the Board shall broadly consider all relevant facts and circumstances.

The following relationships will not be considered to be material relationships that would impair a Director's
independence (categorical standards):

(i) Immaterial Sales/Purchases: The Director is an executive officer or employee or any member of his or her
immediate family is an executive officer of any other organization that does business with the Company and
the annual sales to, or purchases from, the Company are less than $1 million or 1% of the consolidated gross
revenues of such organization, whichever is more;
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(ii) Immaterial Indebtedness: The Director or any member of his or her immediate family is an executive
officer of any other organization which is indebted to the Company, or to which the Company is indebted,
and the total amount of either company's indebtedness to the other is less than $1 million or 1% of the total
consolidated assets of the organization on which the Director or any member of his or her immediate family
serves as an executive officer, whichever is more;

(iii)Immaterial Position: The Director is a director or trustee, but not an executive officer, or any member of
his or her immediate family is a director, trustee or employee, but not an executive officer, of any other
organization (other than the Company's outside auditing firm) that does business with, or receives donations
from, the Company;

(iv) Immaterial Ownership: The Director or any member of his or her immediate family holds a less than
10% interest in any organization that has a relationship with the Company; or

(v) Immaterial Nonprofit Relationship: The Director or any member of his or her immediate family serves as
an executive officer of a charitable or educational organization which receives contributions from the
Company in a single fiscal year of less than $1 million or 2% of that organization's consolidated gross
revenues, whichever is more.
Annually, the Board will review all relevant relationships of Directors to determine whether Directors meet
the categorical standards described above. The Board may determine that a Director who has a relationship
that exceeds the limits described in the categorical standards (to the extent that any such relationship would
not constitute a bar to independence under the NYSE listing standards), is nonetheless independent. The
Company will explain in the next proxy statement related to its annual meeting of shareowners the basis for
any Board determination that a relationship is immaterial despite the fact that it does not come within the
categorical standards set forth above.

In addition to meeting the independence standards for Directors set forth above, Audit Committee members
may not receive direct or indirect compensation from the Company other than as Directors, and may not be
affiliated persons of the Company and must otherwise satisfy the independence requirements set forth in
Rule 10A-3(b) (1) of the Securities and Exchange Commission. Audit Committee members may receive
Directors' fees.
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6. Committees of the Board.

The Board has seven standing Committees: Audit, Compensation, Directors and Corporate Governance,
Executive, Finance, Management Development, and Public Issues and Diversity Review. The Board may
establish additional committees as necessary or appropriate.

The Committee on Directors and Corporate Governance annually reviews the composition of each standing
Committee and presents recommendations for Committee membership to the Board as needed. There is no
strict Committee rotation policy and changes in Committee assignments are made based on Committee
needs, Director interests, experience and availability, and applicable regulatory and legal considerations.
Only independent Directors may serve on the Audit Committee, the Compensation Committee and the
Committee on Directors and Corporate Governance.

Each of the standing Committees has its own charter, which sets forth the responsibilities of the Committee,
the qualifications and procedures of the Committee and how the Committee will report to the Board. Each
Committee will conduct a self-evaluation annually.

The Chairman of each Committee will determine the frequency of Committee meetings, consistent with the
Committee's charter and the Company's needs.

7. Director Access to Officers, Employees and Information.

Directors have full and free access to officers, employees and the books and records of the Company. Any
meetings or contact that a Director wishes to initiate may be arranged through the Chief Executive Officer or
the Secretary or directly by the Director. The Directors should use their judgment to ensure that any such
contact is not disruptive to the business operations of the Company.

The Board welcomes the regular attendance at Board meetings of non-Board members who are in the most
senior management positions in the Company. The Chairman of the Board shall extend such invitations.

8. Director Orientation and Continuing Education.

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All new Directors must participate in the Company's Orientation Program, which should be conducted as
soon as reasonably practicable after the meeting at which a new Director is elected. This orientation will
include presentations by senior management to familiarize new Directors with the Company's business and
strategic plans, its significant financial, accounting and risk management issues, its compliance programs, its
Code of Business Conduct, its principal officers, and its internal and independent auditors. Any sitting
Directors may attend the Orientation Program.

The Directors are encouraged to participate in continuing Director education.

9. Annual Performance Evaluation of the Chairman of the Board and the Chief Executive Officer.

To ensure that the Chairman of the Board and the Chief Executive Officer are providing the best leadership
for the Company, the Board will annually evaluate the Chairman of the Board’s and Chief Executive
Officer's performance in an executive session of non-management Directors led by the Lead Independent
Director. The Compensation Committee will measure the Chairman of the Board’s and the Chief Executive
Officer's performance against each of his or her goals and objectives pursuant to the Company’s plans and,
after considering the full Board’s evaluation of his or her performance, determine the compensation of the
Chairman of the Board and the Chief Executive Officer. The full Board will review the Compensation
Committee’s actions. The Board shall annually review and ratify corporate goals and objectives relevant to
the Chairman of the Board’s and Chief Executive Officer’s compensation.

10. Management Succession.

The Board will determine policies and principles for selection of the Chief Executive Officer and policies
regarding succession in the event of an emergency or the retirement of the Chief Executive Officer. The
Board, with input from the Management Development Committee, will oversee senior management
development and the planning for succession to senior positions.

11. Annual Board Performance Evaluation.

The Board of Directors will conduct an annual self-evaluation to determine whether the Board and its
Committees are functioning effectively. During the year, the Committee on Directors and Corporate
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Governance shall receive input on the Board's performance from Directors and, through its Chairman, will
discuss the input with the full Board and oversee the full Board's review of its performance. The assessment
will focus on the Board's contribution to the Company and specifically focus on areas in which the Board or
management believes that the Board or any of its Committees could improve.

12. Director Compensation.

The form and amount of Director compensation shall be determined by the Committee on Directors and
Corporate Governance and then recommended to the full Board for action in accordance with the Committee
charter. In determining compensation, the Committee on Directors and Corporate Governance shall take into
consideration the responsibilities of the Directors and fees and other forms of compensation being paid by
other corporations comparable to the Company.

Stock in the Company should be a significant portion of Director compensation.

13. Board Interaction with Outside Interested Parties.

The Board believes that management speaks for the Company. From time to time, at the request of
management, individual Board members may meet or otherwise communicate with various constituencies
that are involved with the Company. Where comments from the Board are appropriate, they will normally
come from the Chairman.

14) Corporate Governance

At The Coca-Cola Company, our sound business principles and practices foster an innovative and
collaborative culture, which is committed to ethical behavior, accountability and transparency. The
company’s Board of Directors has a number of committees to assist in discharging its duties. These include
an Audit Committee, a Talent and Compensation Committee, a Committee on Directors and Corporate
Governance, a Finance Committee, a Management Development Committee, an ESG and Public Policy
Committee and an Executive Committee. The charter for each committee can be viewed on our website.
Information about the company’s corporate governance, including our Code of Business Conduct, Corporate
Governance Guidelines, Certificate of Incorporation and By laws, is also on our website.
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15) ESG Governance

The Board’s ESG and Public Policy Committee assists the Board in overseeing the company’s policies and
programs and related risks to the company that concern environmental, social, legislative, regulatory and
public policy matters, including progress against the company’s ESG goals. The Committee’s scope includes
public
issues of significance that may affect the company’s business, our shareowners, the broader stakeholder
community or the general public. This entails evaluating and reviewing information pertaining to social,
political and environmental trends, with oversight over ESG goals and human rights practices. The
Committee reviews, at least annually, all shareowner proposals, public policy advocacy efforts, political
contributions and charitable contributions to ensure alignment with company policy. The Committee reports
regularly to the full Board on these matters. The Committee
also receives periodic updates on priority ESG issues, including information on actions and progress toward
goals. Annually, the Committee conducts a self-evaluation, which it presents to the full Board.Our Board’s
Talent and Compensation Committee oversees human capital management policies and strategies across the
company. This senior-level commitment and alignment drives the top-down effect of ensuring company
leaders are invested in building accountability.

16) Our ESG Approach Across the Coca-Cola System

We pursue our ESG goals through a concerted effort by The Coca-ColaCompany and approximately 225
bottling partners in more than 200 countries and territories. We aim to achieve our ambitious goals to drive
system1
-
wide change. We have robust internal processes and an effective internalcontrol environment that facilitate
the identification and management of risks and regular communication with the Board, our Chairman and
CEO and internal teams such as the Enterprise Risk Management team and Risk Steering Committee.
Beyond this, our Stakeholder Engagement function works with business units, bottling partners, NGOs,
governments and people in communities
all around the world to identify risks and progress toward our goals.For more about our approach to risk
management and priority issues, see Our Priority ESG Issues.

17) Our Approach to Disclosure

We aim to provide stakeholders with complete, transparent and candid information in all our public
communications. This is our third annual Business & ESG Report, which combines
our financial data and sustainability progress and performance into one publication. We also respond to the
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CDP climate and water questionnaires and make those disclosures publicly available. For this report, we
have updated our priority issues matrix and continued to expand our disclosure, including around public
policy, supply chain, and diversity, equity and inclusion. We also provide an index to the Task Force on
Climate-related Financial Disclosures. We recognize that there is a need for standardization across reporting
frameworks, and we’re continually evaluating reporting options and listening to stakeholder feedback. We
have a robust reporting process that spans many years. This report is prepared in accordance with the Global
Reporting Initiative (GRI) Standards, a globally recognizedframework, and this is the tenth year that these
principles have informed our reporting process. For more information about disclosure in this report, please
see the Reporting Frameworks. We also provide an index for the Sustainability Accounting Standards Board
(SASB), and Coca-Cola participates in the SASB Advisory Group.

18) Political Contributions

The ESG & Public Policy Committee of our Board of Directors annually reviews and approves our advocacy
efforts, including all U.S. political contributions from both Political Action Committee (PAC) funds and,
where allowed by applicable law, the company’general treasury funds. We have always taken a bipartisan
approach to political contributions, and we have always evaluated our giving based on our political
engagement criteria, which we share publicly. Last year we updated our political giving policy to ensure we
are evaluating a broader range of criteria. Following the violent events that unfolded in the U.S. Capitol on
January 6, 2021, The Coca-Cola Company and the Coca-Cola Political Action Committee suspended
political giving to further review how we best use our resources to promote and advocate for the things we
believe in and align with our company’s purpose and values. That review is still under way. Information on
our political contributions from the last few years is
available on our website.

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