Coca-Cola HBC CFO to step down in 2021

Coca-Cola HBC has announced that its CFO, Michalis Imellos, has informed the company of his intention to step down from the role at the end of the first quarter of 2021.

Immelos will continue in his role until his successor has been appointed and then remain with the company during the transition period.

He joined the company in 2008 holding the position of regional finance director, later being promoted to general manager and most recently group chief financial officer in 2012.

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He has also worked at Xerox where he held numerous senior positions, which included, finance director, field controller and most recently M&A director of Europe.

Immelos began his career at ‘Big Four’ accountancy firm EY.

He said: “It has been a privilege to be part of the Coca‑Cola HBC success for the past 12 years. I am grateful to the talented people I worked with and proud of our achievements throughout these years. 

“I am committed to facilitating a handover and transition that will ensure that Coca‑Cola continues to capture the exciting opportunities ahead, from a position of strength.”

CEO Zoran Bogdanovic added: “On behalf of everyone at Coca‑Cola, I would like to thank Michalis for his strong commitment and valuable contributions to the Company. In the last eight years as group CFO.

“Michalis has been instrumental in shaping and implementing key strategic decisions and initiatives that successfully navigated Coca‑Cola HBC through periods of challenge and growth, while building a robust balance sheet and a strong team.”

He concluded: “I am grateful for his support and partnership since my taking over as CEO and I am pleased that he will remain with the company to ensure a smooth transition.”

Coca‑Cola HBC is conducting a search for its next CFO considering internal and external candidates.

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