Coca-Cola has tapped a Chobani executive to run the BodyArmor sports drink business which the company acquired in November, BD has learned. Federico Muyshondt will join BodyArmor on April 25 as CEO, taking over the operation from current President Brent Hastie, who will retire at the end of this year, according to sources. Coke announced the move internally this afternoon. Muyshondt has spent the past four years at Greek yogurt maker Chobani, where he is currently chief commercial officer. He also spent eight years in commercial and sales roles at Danone, and worked at PepsiCo’s Frito-Lay unit from 2007 to 2010, according to his LinkedIn profile
NEW CFO. Coke also has named Brook Pointer as CFO of BodyArmor to succeed Tom Hadley, who also retires at the end of the year. Pointer is currently CFO of the still beverage business within Coke’s North America Operating Unit, according to his LinkedIn profile. He has worked in finance at Coca-Cola for 25 years.
COKE RESPONSE. In response to questions from BD, Coke sent the following statement by email: “We are thrilled to welcome Federico Muyshondt to the Coca-Cola Company as CEO of BodyArmor. Fed not only brings with him an extraordinary track record of delivering innovation and growth, but he also has a demonstrated ability to build high-performing teams, enabling them to think outside the box. We're also pleased to announce Brook Pointer as BodyArmor’s Chief Financial Officer. A 25-year veteran of The Coca-Cola Company, Brook currently serves as the Vice President of Finance supporting Coca-Cola’s North America Marketing organization.”
MORE. No other management changes were announced, according to BD sources. When Coke acquired BodyArmor in November, BodyArmor Co-founder Mike Repole, Hastie, and other leaders agreed to stay on with the brand for at least a year under a consulting and transition-services agreement. Repole also agreed to collaborate on the company’s still beverages portfolio, including marketing, packaging and innovation strategies across multiple brands.
PERFORMANCE. In the 12 weeks ending March 12, dollar sales for Coca-Cola’s sports drink portfolio, which includes Powerade and BodyArmor, grew +24%. Volume sales grew +7.5%.
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