The Board

Our Board is responsible for ensuring the highest level of corporate governance, accountability and risk management for the Group

Role of the Board

Our Board has ultimate responsibility for our long-term success and for delivering sustainable shareholder value as well as contributing to wider society. 

The Board is responsible for setting the Company’s purpose, values and strategy and ensures the alignment with its culture; this includes ensuring that workforce policies and practices are consistent with the Company’s values and support its long-term sustainable vision. This is achieved by approving the corporate strategy, monitoring performance toward strategic objectives, overseeing implementation of the strategy by the Operating Committee and approving matters reserved by the Articles of Association for decision by the Board. Specific tasks are delegated by the Board to its committees for audit and risk, nomination, remuneration and social responsibility.

  • Anastassis G. David

    Non-Executive Chairman

    Anastassis David was appointed Chairman of the Board of Directors of Coca‑Cola HBC on 27 January 2016. He joined the Board of Coca‑Cola HBC as a non-Executive Director in 2006 and was appointed Vice Chairman in 2014. Anastassis David brings to his role more than 20 years’ experience as an investor and non-executive director in the beverage industry and is also a former Chairman of Navios Corporation. He holds a BA in History from Tufts University. Anastassis David is active in the international community and serves on the International Board of Advisors of Tufts University. He serves as a Vice Chairman of Aegean Airlines S.A. and he is member of the board of directors AXA Insurance S.A. Anastassis David, is a member of the Board of Trustees of College Year in Athens, Vice Chairman of the Cyprus Union of Shipowners and Vice Chairman of the State Health Services Organisation of the Republic of Cyprus.

  • Zoran Bogdanovic

    Chief Executive Officer, Executive Director

    Zoran Bogdanovic was appointed Chief Executive Officer of Coca‑Cola HBC on 7 December 2017. Prior to this appointment, he was a Region Director and member of Coca‑Cola HBC AG’s Operating Committee since 2013. Zoran Bogdanovic joined the Company in 1996 and has held a number of senior leadership positions, including as General Manager for the operations in Croatia, Switzerland and Greece.

  • Charlotte J. Boyle

    Independent Non-Executive Director

    Charlotte Boyle was appointed to the Board of Directors of Coca‑Cola HBC on 20 June 2017. She joined The Zygos Partnership, an international executive search and board advisory firm, as a consultant in 2003 and was subsequently appointed associate partner in 2006 and partner in 2008. After 14 years with the firm, she retired from her position in July 2017. Prior to that, Charlotte Boyle worked at Goldman Sachs International between 2000 and 2003. Between 1996 and 1999 Charlotte Boyle was a consultant at Egon Zehnder International, an international executive search and management assessment firm. She obtained an MBA from the London Business School and an MA from Oxford University and was a Bahrain British Foundation Scholar. Charlotte Boyle serves as a member of the board and as chair of the finance committee of Alfanar, the first venture philanthropy organisation focused on the Arab world. She also serves as an independent non-executive director of Capital and Counties Properties plc.

  • Olusola (Sola) David-Borha

    Independent Non-Executive Director

    Sola David-Borha was appointed to the Board of Directors of Coca‑Cola HBC in 2015. She was Chief Executive Officer of Stanbic IBTC Holdings plc, a full service financial services group with subsidiaries in commercial banking, investment banking, pension and non-pension asset management and stockbroking. Stanbic IBTC Holdings is listed on the Nigerian Stock Exchange and is a member of Standard Bank group. Sola David-Borha has over 30 years’ experience in financial services and held several senior roles within the Stanbic Group, including the position of Chief Executive of Stanbic IBTC Bank from May 2011 to November 2012. She also served as Deputy Chief Executive Officer of Stanbic IBTC Bank and Head of Investment Banking Coverage Africa (excluding South Africa). Sola David-Borha holds a first degree in Economics, and obtained an MBA degree from Manchester Business School. Her executive education experience includes the Advanced Management Programme of the Harvard Business School and the Global CEO Programme of CEIBS, Wharton and IESE. Since January 2017, Sola David-Borha is the Chief Executive of the Africa Regions (excluding South Africa) for Standard Bank Group, Africa’s largest bank by assets with operations in 20 countries across the continent. Sola David-Borha is an Honorary Fellow of the Chartered Institute of Bankers of Nigeria (CIBN) and a former Vice Chairman of the Nigerian Economic Summit Group.

  • William W. (Bill) Douglas III

    Independent Non-Executive Director

    Bill Douglas was appointed to the Board of Directors of Coca‑Cola HBC on 21 June 2016. He is a former Vice President of Coca‑Cola Enterprises, a position in which he served from July 2004 until his retirement in June 2016. Bill Douglas has held various positions within the Coca‑Cola System since 1985. In 1991, he was appointed Division Finance Manager for the Nordic & Northern Eurasia Division of The Coca‑Cola Company. Bill Douglas moved to Atlanta in 1994 as Executive Assistant to the President of The Coca‑Cola Company’s Greater Europe Group. In 1996, Bill Douglas became Nordic Region Manager. In 1998, he was appointed Controller of Coca‑Cola Beverages plc. From 2000 until 2004, Bill Douglas served as Chief Financial Officer of Coca‑Cola HBC. He joined Coca‑Cola Enterprises in 2004 when he was appointed Vice President, Controller and Principal Accounting Officer. He was appointed Senior Vice President and Chief Financial Officer in 2005 and Executive Vice President and Chief Financial Officer of Coca‑Cola Enterprises in 2008. From 2013 to 2015, Bill Douglas was the Executive Vice President, Supply Chain. Before joining the Coca‑Cola System, Bill Douglas was associated with Ernst & Whinney, an international accounting firm. He received his undergraduate degree from the J.M. Tull School of Accounting at the University of Georgia. Bill Douglas is the Lead Director and Chairman of the Audit Committee of SiteOne Landscape Supply, Inc. He is also member of the Board of Directors and Chair of the Audit Committee for The North Highland company. Finally, Bill Douglas is the Chairman of the Board of the University of Georgia Trustees.

  • Reto Francioni

    Senior Independent Non-Executive Director

    Reto Francioni was appointed to the Board of Directors of Coca‑Cola HBC on 21 June 2016. He has been Professor of Applied Capital Markets Theory at the University of Basel since 2006 and is the author of several highly respected books on capital market issues. From 2005 until 2015, Reto Francioni was Chief Executive Officer of Deutsche Börse AG and from 2002 until 2005, he served as Chairman of the Supervisory Board and President of the SWX Group, which owns the Swiss Stock Exchange and has holdings in other exchanges. Between 2000 and 2002, Reto Francioni was Co-Chief Executive Officer and Spokesman for the Board of Directors of Consors AG. Between 1993 and 2000, he held various management positions at Deutsche Börse AG, including that of Deputy Chief Executive Officer.From 2003 until 2005, Reto Francioni was an Adjunct Professor of Economics and Finance at Zicklin School of Business, part of the City University of New York. He earned his Doctorate of Law at the University of Zurich. Reto Francioni serves as a member of the Board of Directors of UBS Group and as the Chairman of the Supervisory Board of Swiss International Airlines. He is also director and consultant of myTAMAR GmbH

  • Anastasios I. Leventis

    Non-Executive Director

    Anastasios Leventis was appointed to the Board of Directors of Coca‑Cola HBC in 2014. He holds a BA in Classics from the University of Exeter and an MBA from New York University’s Leonard Stern School of Business. Anastasios Leventis is currently employed by Leventis Overseas Limited, a company that imports and exports to West Africa, and is a board member of A.G. Leventis (Nigeria) Plc. He is also a director of Alpheus Group Limited, a private asset management company managing assets of private clients and charitable foundations. In addition, he serves as a trustee of the A.G. Leventis Foundation, a member of the board of overseers of the Gennadius Library in Athens and a member of the Campaign board of the University of Exeter.

  • Christo Leventis

    Non-Executive Director

    Christo Leventis was appointed to the Board of Directors of Coca‑Cola HBC in 2014. He worked as an Investment Analyst with Credit Suisse Asset Management from 1994 to 1999. In 2001, he joined J.P. Morgan Securities as an Equity Research Analyst focusing on European beverage companies. From 2003 until March 2014, Christo Leventis was a member of the Board of Directors of Frigoglass S.A.I.C., a leading global manufacturer of commercial refrigeration products for the beverage industry. He holds a BA in Classics from University College London and an MBA from the Kellogg School of Management in Chicago. In 2003, Christo Leventis started the private equity investment arm of Alpheus, a private asset management company, and he continues to serve as a member of its investment advisory committee.

  • Alexandra Papalexopoulou

    Independent Non-Executive Director

    Alexandra Papalexopoulou was appointed to the Board of Directors of Coca‑Cola HBC in 2015. She worked previously for the OECD and the consultancy firm Booz, Allen & Hamilton, in Paris. From 2003 until February 2015 she served as a member of the board of directors of Frigoglass S.A.I.C., from 2010 to 2015 she served as a member of the board of directors of National Bank of Greece and from 2007 to 2009 she served as a member of the board of directors of Emporiki Bank. Alexandra Papalexopoulou holds a BA in Economics and Mathematics from Swarthmore College, USA, and an MBA from INSEAD, France Alexandra Papalexopoulou is the Strategic Planning Director at Titan Cement Company S.A., where she has been employed since 1992 and serves as Executive Director since 1995. She is treasurer and a member of the board of directors of the Paul and Alexandra Canellopoulos Foundation, a member of the board of directors of the ALBA College of Business Administration Association and a member of the board of trustees of the American College of Greece.

  • José Octavio Reyes

    Non-Executive Director

    José Octavio Reyes was appointed to the Board of Directors of Coca‑Cola HBC in 2014. He is the former Vice Chairman of The Coca‑Cola Export Corporation, a position in which he served from January 2013 until his retirement in March 2014. He was president of the Latin America Group of The Coca‑Cola Company from December 2002 to December 2012. Following various managerial positions in Mexico, Brazil and in The Coca‑Cola Company headquarters in Atlanta, José Octavio Reyes was named President of the North Latin America Division of Coca‑Cola in 2002. Prior to joining Coca‑Cola, José Octavio Reyes spent five years with Grupo IRSA, a Monsanto Company joint venture. He holds a BSc in Chemical Engineering from the Universidad Nacional Autónoma de México and an MBA from the Instituto Tecnológico de Estudios Superiores de Monterrey. José Octavio Reyes has been a member of the board of directors of MasterCard WorldWide since January 2008 and is a member of the board of directors of Papalote Children’s Museum in Mexico City and Fundación UNAM. He has been a Director of Coca‑Cola FEMSA S.A.B. de C.V. since 2016.

  • Alfredo Rivera

    Non-Executive Director

    Alfredo Rivera was appointed to the Board of Directors of Coca‑Cola HBC on 18 June 2019. Alfredo Rivera is President of Coca-Cola North America  for The Coca‑Cola Company. He oversees the Coca‑Cola business across four business units in Latin America: South Latin, Brazil, Latin Center and Mexico. A long-time veteran of The Coca‑Cola system in his current position, Alfredo is also contributing to craft the short and long term growth strategies of The Coca‑Cola Company. Alfredo was previously President of the Latin Center Business Unit for The Coca‑Cola Company (2013 to 2016). Before joining the Latin Center, Alfredo was Sparkling Beverages General Manager for the Mexico Business Unit (September 2006 to December 2012), where he was responsible for leading the Franchise and Customer & Commercial Leadership functions in the second largest business unit of The Coca‑Cola Company. Alfredo joined The Coca‑Cola Company in the Central America and Caribbean Division in 1997 as District Manager for Guatemala and El Salvador. From 1999 to 2003 he was appointed Southeast Region Manager in the Brazil Division and from 2004 to 2006, he served as General Manager of the Ecuador business, leading the turnaround of the business under challenging circumstances. Prior to joining The Coca‑Cola Company, Alfredo worked for two Independent Coca‑Cola bottlers in Honduras and El Salvador over a thirteen-year period. Alfredo is a citizen of Honduras, and holds a Bachelor’s degree in History and an MBA degree from the University of Southern Mississippi.

  • Robert Ryan Rudolph

    Non-Executive Director

    Robert Ryan Rudolph was appointed to the Board of Directors of Coca‑Cola HBC on 21 June 2016. From 1993 until 2006, Robert Ryan Rudolph worked as an attorney at the business law firm Lenz & Staehelin in Zurich. Prior to that, Robert Ryan Rudolph worked as a public relations consultant at the public relations agency Huber & Partner in Zurich, as marketing assistant and subsequently as manager at Winterthur Life Insurance as well as part-time with D&S, the Institute for Marketing and Communications Research in Zurich. Robert Ryan Rudolph obtained an LLM from the University of Zurich and is admitted to the Zurich bar. Robert Ryan Rudolph also studied at the Faculté des Lettres of the University of Geneva as well as the Ecole Polytechnique in Lausanne. Robert Ryan Rudolph is an attorney and partner at the Zurich-based law firm Oesch & Rudolph. In addition, he serves as a member of the Foundation Board of the A.G. Leventis Foundation and as a member of the board of various privately held companies.

  • Anna Diamantopoulou

    Independent Non-Executive Director

    Anna Diamantopoulou was appointed to the Board of Directors of Coca-Cola HBC on 16 June 2020. She is the founder and President of DIKTIO – Network for Reform in Greece and Europe, a leading Athens-based independent, non-partisan policy institute. She previously served as Deputy Minister for Industries, Minister of Education, Lifelong Learning and Religious Affairs and Minister of Development, Competitiveness and Shipping of the Hellenic Republic, having also been an MP for over a decade. She served as a member the European Commission, in charge of Employment, Social Affairs and Equal Opportunities (1999–2004). She is, inter alia, a member of the Scientific Council of the Foundation for European Progresssive Studies (FEPS), a Council Member of the European Council on Foreign Relations (ECFR), an Advisory Board Member of Delphi Economic Forum and a member of the 7-member Honorary Board (chaired by Spanish PM José Aznar) of the Bussola Institute, a foundation aiming to strengthen cooperation between the EU and the GCC. She was a Fisher Family Fellow at the Harvard Kennedy School, a Distinguished Scholar at Singapore’s Lee Kuan School of Public Policy as well as Richard von Weizsäcker Fellow at the Robert Bosch Stiftung. She holds MA degrees in Civil Engineering and Regional Development from the universities of Athens and Thessaloniki. She has received multiple awards and decorations such as the French Legion of Honour and an award from the Confederation of Danish Industrialists for the creation of the White Paper and the program, on Corporate Social Responsibility.

  • leads the Board, sets the agenda and promotes a culture of openness and debate; 
  • is responsible for overall effectiveness in leading the Company and setting the culture; 
  • ensures the highest standards of corporate governance; 
  • is the main point of contact between the Board and management; and 
  • ensures effective communication with shareholders and stakeholders.

  • leads the business, implements strategy and chairs the Operating Committee; and
  • communicates with the Board, shareholders, employees, government authorities, other stakeholders and the public.

  • acts as a sounding board for the Chairman and appraises his performance; 
  • leads the independent non-Executive Directors on matters that benefit from an independent review; and
  • is available to shareholders if they have concerns which have not been resolved through the normal channels of communication.

  • contribute to developing Group strategy;
  • scrutinise and constructively challenge the performance of management in the execution of the Group’s strategy; and
  • oversee succession planning, including the appointment of Executive Directors.

  • ensures that correct Board procedures are followed and ensures the Board has full and timely access to all relevant information;
  • facilitates induction and training programmes, and assists with the Board’s professional development requirements; and
  • advises the Board on governance matters.

Our Board has delegated specific tasks to its committees as set out in the Organisational Regulations and reports from these committees are set out in this Corporate Governance Report. Biographies of the Chairs of the Board committees and the other members of the Board, the Audit and Risk Committee, the Nomination Committee, the Remuneration Committee and the Social Responsibility Committee are set out on pages 80-82 of our Integrated Annual Report – see here


  • Oversight of the accounting policies, financial reporting and disclosure controls; the Group’s approach to internal controls and risk management; and the quality, adequacy and scope of internal and external audit functions.
  • Oversight of the Company’s compliance with legal, regulatory and financial reporting requirements, and the work programme of the internal audit function. 
  • External auditor reports directly to the Committee.


  • Establishment of the remuneration strategy for the Group; determines and agrees with the Board the remuneration of Group Executives and approves remuneration for the Chairman and the Chief Executive Officer. 
  • Makes recommendations to the Board regarding remuneration matters to be approved at the Annual General Meeting. 
  • Implementation or modification of any employee benefit plan resulting in an increased annual cost of €5 million or more.


  • Identification and nomination of new Board members, including recommending Directors to be members of each Board Committee
  • Ensuring adequate Board training; supporting the Board and each committee in conducting a self-assessment; 
  • Oversight of the establishment of a talent development framework for the Group. 
  • Oversees effective succession planning for the Chief Executive Officer, in consultation with the Chairman, and for the Operating Committee, in consultation with the Chief Executive Officer.


  • Supports the Board in its responsibilities to safeguard the Group’s reputation for responsible and sustainable operations. 
  • Oversight of the Group’s engagement with stakeholders to assess their expectations, and the possible consequences of these expectations for the Group. 
  • Establishes principles governing social and environmental management, and oversees development of performance management to achieve social and environmental goals.

The Operating Committee, led by the Chief Executive Officer, meets 12 times each year and provides the Group with executive leadership. The Committee has responsibility for: the development of long-term strategies and the implementation of strategies approved by the Board; providing adequate head-office support for each of the Group’s countries; working closely with the country General Managers, as set out in our operating framework; and the setting of annual targets and approval of annual business plans which form the basis of the Group’s performance management.