Coca-Cola Enterprises (NYSE/Euronext Paris: CCE) today will discuss its plans and outlook with analysts and investors at the Barclays Back-to-School Conference in Boston at 9:45 a.m. ET. The public can access the presentation through the company’s website, www.cokecce.com.
Manik 'Nik' Jhangiani (Photo: Business Wire)
John F. Brock, chairman of the board and chief executive officer, and Bill Douglas, executive vice president and chief financial officer, will deliver the remarks. In the presentation, CCE will affirm its current 2013 full-year guidance. CCE will also highlight that, effective November 1, 2013, Manik ‘Nik’ Jhangiani will become chief financial officer. Recently, Bill Douglas assumed additional responsibility for CCE’s supply chain organization and, following Nik’s appointment, Bill will continue to lead that organization reporting to Mr. Brock.
“This evolution in our leadership team demonstrates our deep bench of management talent. Bill’s experience, background, and capabilities will be valuable to our supply chain team and Nik is a talented finance executive who has a wealth of experience in the Coca-Cola system, making him a strong successor. Bill will remain a key member of our executive team and has been an outstanding partner to me. We have guided CCE through some of the most eventful years in our history, and generated significant shareowner value. While our leadership team evolves, our focus on and commitment to driving shareholder value remains,” Mr. Brock said.
FULL-YEAR 2013 OUTLOOK
CCE now expects 2013 comparable earnings per diluted share in the upper half of the previously stated range of $2.45 to $2.50, including a modest positive currency translation impact of less than 1 percent at recent rates. Full-year net sales are expected to grow in a low single-digit range versus prior year. Operating income is expected to grow in a low to mid-single-digit range. Guidance for net sales and operating income is comparable and currency neutral.