Coca Cola (KO) Announces Retirement of Herbert A. Allen from Board

The Coca-Cola Company (NYSE: KO) today announced that Herbert A. Allen has retired as a director, stepping down after 39 years of service.

Allen, 80, was the longest-serving current member of the company’s board of directors. Allen retired effective Aug. 18. With Allen’s retirement, Coca-Cola now has 11 directors.

“On behalf of The Coca-Cola Company and its board of directors, I thank Herbert for his service,” said James Quincey, Chairman and CEO of The Coca-Cola Company. “Herbert joined the board in 1982. Throughout the years, his counsel and sound judgment have guided company leadership through many evolutions. His positive impact on Coca-Cola will last far beyond his tenure on the board. We wish him all the best in the next chapter.”

“The greatest part of serving as a director has been meeting and getting to know a wide variety of people in the company,” Allen said. “Whether bottlers, Coke employees, officers or company directors, virtually everyone has been part of an enriching experience. As a shareowner, I extend my appreciation and gratitude to all of you.”

Allen is president, CEO and director of Allen & Co., a privately held investment firm in New York. Allen & Co. is a preeminent investment firm focused on the media, entertainment, technology and other innovative industries.

Allen joined the Coca-Cola board when the company was led by Chairman and CEO Roberto Goizueta. Allen went on to work with five other chairmen of the company, most recently Quincey.

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