Global beverages major Coca-Cola Tuesday announced top-level changes in its India & South West Asia unit. Sarvita Sethi was appointed as vice-president–M&A and New Ventures, Coca-Cola India & South West Asia.
Sarvita Sethi, who in 2016 had become the first woman to head the company’s finances for the region, would now be vice-president, merger and acquisitions (M&A) and new ventures, for Coke’s India and Southwest Asia region. Her appointment in a newly created position is of significance. In her new position, she will be responsible for the firm’s crucial incubator, which involves conceptualising, developing and launching new products relevant to the market, besides scaling up these new brands or products until they can be managed by general marketing and sales teams.
As Coca-Cola shifted its focus towards new areas of businesses, apart from its core cola portfolio, a year ago, its incubator model has become important for the firm’s future growth in a market that is increasingly becoming health conscious. In the past two years, Coke has introduced new products like Aquarius Glucocharge (at Rs 10) to grow its business beyond cola and cater for price-sensitive consumers. T Krishnakumar, Coke’s president for the region, emphasised on developing such products and brands which will be in line with the market’s needs.
“There are significant opportunities that lie ahead of us to grow our portfolio and meaningfully penetrate the market. It is our constant endeavour to strengthen the leadership team for strong, sustainable future growth and address developing business needs. It also reinforces our commitment towards investing in talent development,” said Krishnakumar.
In her new role, Sethi will be responsible for any new acquisition a move that Coke has been pursuing continuously, Krishnakumar had told Business Standard earlier.
Sethi, now in her mid-forties and a chartered accountant with more than 15 years of experience in corporate finance, had worked for Sainsbury’s and Viacom in London before joining Coca-Cola in 2008.