The Board

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.

Board_Structure_200716 Board_Structure_200716

  • The-Board-2024-Anastassis-G-David The-Board-2024-Anastassis-G-David
    Anastassis G. David

    Non-Executive Chair

    Appointed: January 2016. He joined the Board of CCHBC as a non-Executive Director in 2006 and was appointed Vice Chair in 2014.

    Skills, experience and contribution: Anastassis brings to his role more than 20 years’ experience as an investor and NED in the beverage industry. Anastassis is also a former Chair of Navios Corporation. He holds a BA in History from Tufts University.

    External appointments: Anastassis is active in the international community. He serves as Vice Chair of Aegean Airlines S.A., Vice Chair of the Cyprus Union of Shipowners, Chair of the board of Sea Trade Holdings Inc., a shipowning company of dry cargo vessels, Chair of the board of Nephele Navigation Inc., and member of Adcom Advisory Ltd. He holds the following positions within the Kar-Tess group of companies: board member of Kar-Tess Holding and Executive of Boval Ltd. Also, he is a member of the board of trustees of College Year in Athens, and Director of George and Kaity David Foundation.

    Nationality: British-Cypriot

    Anastassis David has a shared directorship with Alexandra Papalexopoulou, both being a director of Aegean Airlines S.A.. He also has a shared directorship with Anastasis Leventis, both being directors in Nephele Navigation Inc. and has a shared directorship with Anastasios I. Leventis, Christo Leventis and George Pavlos Levelntis, all being directors of Adcom Advisory Ltd.

  • zulikat-wuraola-abiola zulikat-wuraola-abiola
    Zulikat Wuraola Abiola

    Independent non-Executive Director

    Appointed: May 2024.

    Skills, experience and contribution: Zulikat Wuraola Abiola is the managing director of Management Transformation Ltd, a management consulting firm. She has served clients in Nigeria and throughout Africa in strategy, business development, leadership, governance, organisational development, risk management and public sector policy consulting since 1999. Prior to her current role, she worked at McKinsey & Co, in New York and London, primarily in the areas of strategy and organisation. Wuraola lectures on organisational development at the University of Lagos and Strategy and on corporate policy at the University of Lagos Business School.

    External appointments: Wuraola is managing director of Management Transformation Ltd, She is also a non-executive director and vice chair of Frigoglass S.A.I.C. and chair of Appzone Mauritius Ltd board of directors. She is also a director on the boards of Lekoil Nigeria Limited and Summit Oil International Ltd (Nigeria). Until April 2024, she was also a member of the board of directors in Beta Glass Nigeria PLC.

    Nationality: Nigerian

  • The-Board-2024-Zoran-Bogdanovic The-Board-2024-Zoran-Bogdanovic
    Zoran Bogdanovic

    Chief Executive Officer, Executive Director

    Appointed: June 2018.

    Skills, experience and contribution: Zoran was previously the Company’s Regional Director responsible for operations in 12 countries and has been a member of the Executive Leadership Team since 2013. He joined the Company in 1996 and has held a number of senior leadership positions, including as General Manager of the Company’s operations in Croatia, Switzerland and Greece. Before joining the Company, Zoran was an auditor with auditing and consulting firm Arthur Andersen. Zoran has a track record of delivering results across our territories and demonstrating the values that are the foundation of our Company culture.

    External appointments: None

    Nationality: Croatian

  • The-Board-2024-Charlotte-J.-Boyle The-Board-2024-Charlotte-J.-Boyle
    Charlotte J. Boyle

    Independent non-Executive Director

    Appointed: June 2017.

    Skills, experience and contribution: After 14 years with The Zygos Partnership, an international executive search and Board advisory firm, including nine years as a partner, she retired from her position in July 2017. Prior to that, Charlotte worked at Goldman Sachs International and at Egon Zehnder International, an international executive search and management assessment firm. Charlotte obtained an MBA from the London Business School and an MA from Oxford University and was a Bahrain British Foundation Scholar.

    External appointments:  Charlotte serves as Chair of UK for UN High Commission for Refugees (UNHCR), an independent non-executive director and chair of the Environment, Sustainability and Community Committee of Shaftesbury Capital PLC, an independent director of Thatchers Cider Company Ltd, a non-executive adviser to the Group Executive Board of Knight Frank LLP and as a Trustee and Chair of the Finance Committee of Alfanar, the venture philanthropy organisation.

    Nationality: British

  • The-Board-2024-HenriqueBraun The-Board-2024-HenriqueBraun
    Henrique Braun

    Non-Executive Director

    Appointed: June 2021.

    Skills, experience and contribution: Henrique has vast experience in corporate functions as well as regional and business unit operations in TCCC. He joined TCCC in 1996 in Atlanta and progressed with increased responsibilities in North America, Europe and Latin America. His career responsibilities have included supply chain, new business development, marketing, innovation, general management and bottling operations. From 2020 to 2022, Henrique served as President of the Latin America operating unit, from 2016 to 2020, he served as the President of the Brazil business unit and from 2013 to 2016, he was the President for Greater China and Korea. His other roles in TCCC in the past include Vice President of Innovation and Operations in Brazil and Director for Still Beverages (non-carbonated beverages) in Europe. He first joined TCCC as a trainee in Global Engineering in the US. Henrique holds a bachelor’s degree in agricultural engineering from the University Federal of Rio de Janeiro, a master’s in industrial engineering from Michigan State University and an MBA from Georgia State University

    External appointments:  Henrique currently serves as Executive Vice President, International Development for TCCC, overseeing the company’s operating units for Latin America, Japan and South Korea, ASEAN and South Pacific, Greater China and Mongolia, Africa, India and Southwest Asia and Eurasia and Middle East.

    Nationality: American and Brazilian

  • The-Board-2024-Anna-Diamantopoulou The-Board-2024-Anna-Diamantopoulou
    Anna Diamantopoulou

    Independent non-Executive Director

    Appointed: June 2020.

    Skills, experience and contribution:  Anna, as a former European Commissioner, brings to the Group a unique expertise on matters of employment and equal opportunity together with deep knowledge of the European CSR agenda. Anna was an elected Member of the Greek Parliament for over a decade, during which time she 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. From 1999 to 2004, Anna served as a member of the European Commission in charge of Employment, Social Affairs and Equal Opportunities.

    External appointments: Founder and President of DIKTIO-Network for Reform in Greece and Europe, a leading Athens-based independent, non-partisan policy institute. A Council Member of the European Council on Foreign Relations and an Advisory Board Member of Delphi Economic Forum. She is also the Chair of the European Commission’s High-Level Group on the future of social protection and the welfare state in the EU. Finally, Anna is a member of the Global Advisory Board of KEKST CNC.

    Nationality: Greek

  • The-Board-2024-William-W-Bill-Douglas-III The-Board-2024-William-W-Bill-Douglas-III
    William W. (Bill) Douglas III

    Independent non-Executive Director

    Appointed: June 2016.

    Skills, experience and contribution: Bill is a former Vice President of Coca-Cola Enterprises, a position in which he served from July 2004 until his retirement in June 2016. From 2000 until 2004, Bill served as Chief Financial Officer (CFO) of CCHBC. Bill has held various positions within the Coca-Cola System since 1985, including positions with responsibility for the IT function, including cyber issues. Before joining TCCC, Bill 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.

    External appointments: Bill is the Lead Director and Chair of the Audit Committee of SiteOne Landscape Supply, Inc. He is also a non executive Chair of the Board of Directors of The North Highland company. He also serves on the Board and is a past Chair of the University of Georgia Trustees.

    Nationality: American

  • The-Board-2024-Reto-Francioni The-Board-2024-Reto-Francioni
    Reto Francioni

    Senior Independent non-Executive Director

    Appointed: June 2016.

    Skills, experience and contribution: Reto 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 was CEO of Deutsche Börse AG and from 2002 until 2005, he served as Chair 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 was Co-CEO 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 CEO. He earned his Doctorate of Law at the University of Zurich.

    External appointments:  Reto serves as Chair of the Supervisory Board of UBS Europe SE and also as the Chair of the Supervisory Board of Swiss International Airlines. Reto is also a Vice Chair at the Board of Directors of Medtech Innovation Partners AG, Basel. 

    Nationality: Swiss

  • The-Board-2024-Anastasios-Leventis The-Board-2024-Anastasios-Leventis
    Anastasios I. Leventis

    Non-Executive Director

    Appointed: June 2014.

    Skills, experience and contribution: Anastasios began his career as a banking analyst at Credit Suisse and then American Express Bank. He has previously served on the Boards of the Cyprus Development Bank and Papoutsanis SA. He holds a BA in Classics from the University of Exeter and an MBA from New York University’s Leonard Stern School of Business.

    External appointments: Anastasios is a Board member of A.G. Leventis (Nigeria) Ltd, Vice Chair of the board of Nephele Navigation Inc, a board member of Maxenta Invest Corp., of Middle East Finance Sarl and of Adcom Advisory Ltd. He is a board member of Kar-Tess Holding. Furthermore, Anastasios is a member of the European Council of the Nature Conservancy, a Board Member of WWF Hellas (Greek branch of WWF), a member of the board of Overseers of the Gennadius Library in Athens, a member of the University of Exeter Global Advancement Board, co founder of the Cyclades Preservation Fund, Member of the BoardofTrusteesofA.G. Leventis Foundation, and Director of Leventis Foundation Nigeria.

    Nationality: British

    Anastasios Leventis has a shared directorship with Anastassis David, Christo Leventis and George Pavlos Leventis, all being directors of Adcom Advisory Ltd. He also has shared directorship with Anastassis David, both being directors of Nephele Navigation Inc, and a shared directorship with Christo Leventis, both being directors in Middle East Finance Sarl.

  • The-Board-2024-Christos-Leventis The-Board-2024-Christos-Leventis
    Christo Leventis

    Non-Executive Director

    Appointed: June 2014.

    Skills, experience and contribution: Christo 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 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. Christo holds a BA in Classics from University College London and an MBA from the Kellogg School of Management in Chicago.

    External appointments: Christo is a board member of Alpheus Capital, a single family private equity investment office, a board member of Adcom Advisory Ltd, a board member of Middle East Finance Sarl and holds the following positions within the Kar-Tess group of companies: a board member of Kar-Tess Holding and a board member of Torval Investment Corp. Furthermore, he is a Director of the A.G. Leventis Foundation.

    Nationality: British

    Christo Leventis has a shared directorship with Anastassis David, Anastasios Leventis and George Pavlos Leventis, all being directors of Adcom Advisory Ltd. He also has a shared directorship with Anastasios Leventis, both being directors in Middle East Finance Sarl and with George Pavlos Leventis, both being directors in Torval Investment Corp.

  • The-Board-2024-George-Pavlos-Leventis The-Board-2024-George-Pavlos-Leventis
    George Pavlos Leventis 

    Non-Executive Director

    Appointed: May 2023.

    Skills, experience and contribution: George was a non-executive member of the board of directors of Frigoglass S.A.I.C. from 2014 until May 2023 and held the position of Vice Chair. George previously worked as an analyst in fund management and holds an Investment Management Certificate from the CFA Society. He graduated with a bachelor’s degree in modern history from Oxford University and holds a postgraduate Law degree from City University in the UK.

    External appointments: George is a board member of Adcom Advisory Ltd, a board member of Chalet Alpette Sarl and a board member of 8 Kensington Park Road Ltd. He is also a Board member of Torval Investment Corp., a company within the Kar-Tess group of companies.

    Furthermore, he is a director in Terra Cypria Foundation, a charitable non-governmental organisation, that promotes environmental awareness and sustainability.

    Nationality: British

    George Pavlos Leventis has a shared directorship with Anastassis David, Christo Leventis and Anastasios Leventis, all being directors of Adcom Advisory Ltd. He also has a shared directorship with Christo Leventis, both being directors in Torval Investment Corp.

  • The-Board-2024-Evguenia-Stoitchkova The-Board-2024-Evguenia-Stoitchkova
    Evguenia Stoitchkova 

    Non-Executive Director

    Appointed: May 2023.

    Skills, experience and contribution: Evguenia is currently the President of Global Ventures for TCCC, a unit that focuses on globally scaling acquisitions and brands, including COSTA Coffee and investment in Monster Beverage Corp. Prior to her current role, Evguenia served as President of the company’s Eurasia & Middle East operating unit. From 2017 to 2020, Evguenia was president of the Turkey, Caucasus and Central Asia business unit. From 2013 to 2017, Evguenia served as Franchise General Manager for Italy and Albania. From 2010 to 2013, she was Franchise Operations director for Romania, Bulgaria, Moldova and Albania.

    Evguenia joined Coca-Cola Bulgaria in 2004 as Franchise Country Manager. She became Marketing Manager for sparkling soft drinks in the Adriatic and Balkans business unit in 2007. She was named as Area Marketing Manager in Romania, Bulgaria, Moldova and Macedonia in 2008 before becoming Brand Director for still beverages for South Eastern Europe in 2009. Evguenia started her career at Danone Group in 1994 and led Danone marketing in Bulgaria from 2000 to 2004.

    External appointments: President of Global Ventures at TCCC.

    Nationality: Bulgarian

  • glykeria-tsernou glykeria-tsernou
    Glykeria Tsernou

    Independent non-Executive Director

    Appointed: May 2024.

    Skills, experience and contribution: Glykeria Tsernou has over 25 years of financial advisory, investment, business development and management consulting experience across a range of sectors. Since 2013 Glykeria has been an executive in the family office for Th. Vassilakis Group in Greece (ASE listed Aegean Airlines, Autohellas and holdings in logistics and hospitality) focusing on participations, new investments, and business development. Previously, she worked for Vector Partners, a financial advisory boutique, was investment director at Global Finance, a VC and PE pioneer firm in Athens and head of corporate planning at Alumil S.A., an aluminium extrusion industry. Glykeria had also worked in management consulting at Marakon Associates in London and as financial analyst at Morgan Stanley in New York.  Glykeria studied Business Economics and International Relations at Brown University (Magna Cum Laude, ΦΒΚ) and obtained an MBA from the London Business School.

    External appointments: Glykeria is a non-executive director of Attica Department Stores S.A., Goldair Handling S.A. and Golf Residences S.A., independent non-executive director of Resolute Cepal Greece S.A. and Reinvest Greece S.A and Chairwoman of Elecion Energy S.A. Glykeria also serves on the Board of Trustees of Anatolia College.

    Nationality: Greek

  • 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.


  • 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 Executive Leadership Team, led by the Chief Executive Officer, meets 12 times each year and provides the Group with executive leadership. The Team 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.