Strained relations between poorly performing Coke bottler Coca-Cola Enterprises and its parent company have resulted in the ousting of the former's ceo John Alm.
The world's largest soft drinks distributor, which operates through much of the US and western Europe, has suffered sagging sales as consumers eschew sugary, fizzy drinks in favour of healthier options.
Shares in CCE have fallen 12% since Alm took up his role less than two years ago. He will remain in post until the beginning of next year and will hold an advisory role for up to six months. Lowry Kline, CCE's chairman and former ceo will act as custodian until a permanent replacement is found.
Comments Bonnie Herzog, analyst at Citigroup: "Investors have been disenchanted with Mr Alm's leadership abilities. This change could be viewed as [a sign of] CCE's willingness to make changes to turn its business around."
Data sourced from Financial Times Online; additional content by WARC staff