By Angela Chen
The Coca-Cola Company has added Marc Bolland and David Weinberg,
chief executives of Marks Spencer Group and Judd Enterprises Inc.,
respectively, to its board effective Feb. 18.
Mr. Bolland, 55, has been CEO at the British retailer Marks
Spencer since 2010, and previously served at Heineken International
NV and the supermarket chain Morrisons.
Mr. Weinberg, 62, is president of the early-stage technology
investment firm Digital BandWidth LLC in addition to being chief
executive of Judd Enterprises, a private investment-management
office.
"Marc has extensive international experience in growing global
consumer brands, as well as significant retail expertise,"
Coca-Cola CEO Muhtar Kent said. "And David's deep financial
expertise, experience with regulatory requirements and
entrepreneurial background will be valuable for our board."
Coca-Cola's board has been transforming since early last year,
when veteran Coke directors Donald Keough and Herbert Allen
retired. The board is one of the most powerful in the country, but
also one of the oldest.
Coke directors had an average age of 67, higher than last year's
average of 62.6 years at companies in the Standard Poor's 500-stock
index, according to recruiting firm Spencer Stuart.
But the company is starting to change that.
Other Coke directors in their 70s are expected to step down by
2015, and The Wall Street Journal reported sources saying that Coke
directors were recruiting people in their 50s, "who they want to
get 20 years from."
In addition to Mr. Bolland and Mr. Weinberg, other younger
voices have joined in recent years. Robert Kotick, the 51-year-old
CEO of entertainment company Activision Blizzard Inc. joined in
2012. Evan Greenberg, the 59-year-old CEO of insurer ACE Ltd., has
been a director since 2011.
Write to Angela Chen at angela.chen@dowjones.com
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