Coca-Cola’s old guard is fading away — and Wall Street seems to approve.
Coca-Cola stock closed up almost 1% on Wednesday when two of its older — and more familiar — board members announced plans to retire.
Peter V. Ueberroth, 77, perhaps best-known for his role as president of the Organizing Committee for the 1984 Summer Olympic Games in Los Angeles, will retire after 29 years as a director. Back in 1984, Ueberroth was named TIME Magazines “Person of the Year” for his Olympic efforts. He also was Commissioner of Baseball from 1984 to 1989.
Also, James D. Robinson III, 79, former CEO of American Express, will retire after 40 years as a
director.
Coke, which has posted disappointing earnings over the past years, has been under recent pressure to make changes.
Coca-Cola stock closed up almost 1% on Wednesday when two of its older — and more familiar — board members announced plans to retire.
Peter V. Ueberroth, 77, perhaps best-known for his role as president of the Organizing Committee for the 1984 Summer Olympic Games in Los Angeles, will retire after 29 years as a director. Back in 1984, Ueberroth was named TIME Magazines “Person of the Year” for his Olympic efforts. He also was Commissioner of Baseball from 1984 to 1989.
Also, James D. Robinson III, 79, former CEO of American Express, will retire after 40 years as a
director.
Coke, which has posted disappointing earnings over the past years, has been under recent pressure to make changes.