Michalis Imellos to step down as Coca-Cola HBC finance chief

Coca-Cola HBC announced on Thursday that its chief financial officer Michalis Imellos has informed the board of his intention to step down from the role at the end of the first quarter of 2021.

The FTSE 100 soft drinks bottler said Imellos would continue in his role until his successor has been appointed, and then remain with the company during a transition period.

It said it was conducting a search for its next CFO, considering internal and external candidates, with an announcement to be made in due course.

“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,” said chief executive officer Zoran Bogdanovic.

“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.”

Michalis Imellos added that he was “committed” to facilitating a handover and transition that would ensure Coca-Cola HBC could capture opportunities ahead from a “position of strength”.

At 0909 BST, shares in Coca-Cola HBC were up 0.47% at 2,127p.