The shareholders of Coca-Cola Europacific Partners have given the green light at the annual general meeting held in London for the continuity as directors of the Spaniards Manuel Arroyo, executive vice president and global marketing director of The Coca-Cola Company, and José Ignacio Comenge, as the company has communicated to the National Securities Market Commission (CNMV).
The 'proxy advisor' ISS had advised voting against the re-election of Arroyo and Comenge, but finally both have been confirmed in their positions, in line with the proposal of the Coca-Cola bottler, which a few weeks ago expressly requested the shareholders' support for these items on the agenda.
At the same meeting, the continuity of the Spaniards Sol Daurella, president of CCEP, Álvaro Gómez-Trénor Aguilar, Alfonso Líbano Daurella and Mario Rotllant Solá as members of the bottler's board of directors was also approved, by majority.
Likewise, the shareholders ratified again the waiver so that the company Olive Partners, the main shareholder with 37.2% and controlled by Sol Daurella's family, is not obliged to make a takeover bid in case of increasing its stake in the bottler's capital.
This item on the agenda, on which the 'proxy advisor' ISS had recommended voting against, was approved with the support of 75.39% of the votes cast, after the shareholders of Olive Partners, who hold 37.2%, abstained on this resolution, as they had previously announced.
Olive Partners had indicated weeks earlier that it did not intend to introduce changes or exceed the threshold of 50% of the voting rights.
The shareholders' meeting took place coinciding with the tenth anniversary of the integration of three bottlers in the European market, an operation that has allowed a projected capitalization of 36 billion euros to be reached in 2026, almost double the 16.5 billion euros registered in 2016.
A decade after its creation, the largest Coca-Cola bottler celebrates a journey characterized by growth, value generation, and a firm commitment to the markets in which it operates.