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

  • Board_Anastassis_David Board_Anastassis_David
    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. He serves as vice-chairman of Aegean Airlines S.A., vice-chairman of the Cyprus Union of Shipowners and chairman of the Board of Sea Trade Holdings Inc, a shipowning company of dry cargo vessels. He is also a member of the Board of Trustees of College Year in Athens.

  • ELT-Zoran-Bodganovic ELT-Zoran-Bodganovic
    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.

  • Board_Charlotte_Boyle Board_Charlotte_Boyle
    Charlotte J. Boyle

    Independent Non-Executive Director

    Charlotte Boyle was appointed to the Board of Directors of Coca‑Cola HBC on 20 June 2017. 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 Boyle worked at Goldman Sachs International, and at Egon Zehnder International, an international executive search and management assessment firm. Charlotte Boyle 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 an independent non-executive director and chair of the Environment, Sustainability and Community Committee of Capco plc, a non-executive adviser to the Group Executive Board of Knight Frank LLP and as member of the board and chair of the finance committee of Alfanar, the venture philanthropy organization.

  • Henrique Braun

    Non-Executive Director

    Henrique Braun was appointed to the Board of Directors of Coca‑Cola HBC in 2021. He is currently serves as President of Latin America Operating Unit for The Coca-Cola Company, a role that he has held since 2020. Henrique Braun has vast experience in corporate functions as well as regional and business unit operations in The Coca-Cola Company. He joined The Coca-Cola Company in 1996 in Atlanta, and progressed through increasing 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 2016 to 2020, Henrique 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 The Coca-Cola Company 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 the Coca-Cola Company as a trainee in Global Engineering in the USA. Henrique Braun is a citizen of Brazil and the USA and 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.

  • Board_olusola-david Board_olusola-david
    Olusola (Sola) David-Borha

    Independent Non-Executive Director

    Sola David-Borha was appointed as an independent non- Executive Director of Coca‑Cola HBC in 2015.

    Sola David-Borha has more than 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). Stanbic IBTC Holdings is listed on the Nigerian Stock Exchange and is a member of Standard Bank Group. Between January 2017 and March 2021, Sola David-Borha has been 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. She serves as nonexecutive director on the boards of Stanbic IBTC Holdings Plc and Stanbic Uganda Holdings Limited, listed entities that are members of the Standard Bank Group. Finally, Sola David-Borha was appointed Chairman of Stanbic IBTC Bank Plc, a non-listed subsidiary of Stanbic IBTC Holdings Plc in October 2021.

    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.

  • Board_Anna_Diamantopoulou Board_Anna_Diamantopoulou
    Anna Diamantopoulou

    Independent Non-Executive Director

    Anna Diamantopoulou was appointed to the Board of Directors of Coca-Cola HBC on 16 June 2020. Anna Diamantopoulou, as a former European Commissioner, brings to the Group a unique expertise on matters of employment and equal opportunity together with deep knowledge of European CSR agenda. She was an elected Member of the Greek Parliament for over a decade and during that 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. Anna Diamantopoulou served as a member of the European Commission in charge of Employment, Social Affairs and Equal Opportunities (1999-2004). 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, an Advisory Board Member of Delphi Economic Forum and a member of the Honorary Board of the Bussola Institute, a foundation aiming to strengthen cooperation between the EU and the GCC.

  • Board_Bill_Douglas Board_Bill_Douglas
    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. From 2000 until 2004, he served as Chief Financial Officer of Coca-Cola HBC. Bill Douglas has held various positions within the Coca-Cola System since 1985, including positions with responsibility for the IT function, including cyber issues. Before joining the Coca-Cola System, he 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 a member of the Board of Directors and Chair of the Audit Committee for The North Highland company. Finally, he is on the Board and past Chair of the University of Georgia Trustees

  • Board_Reto_Francioni Board_Reto_Francioni
    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, he 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, he 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. 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 also as the Chairman of the Supervisory Board of Swiss International Airlines and he is also a Vice Chairman at the Board of Directors of Medtech Innovation Partners AG, Basel.

  • Board_Anastasios_Leventis Board_Anastasios_Leventis
    Anastasios I. Leventis

    Non-Executive Director

    Anastasios Leventis was appointed to the Board of Directors of Coca‑Cola HBC in 2014.  He 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. Anastasios Leventis is a board member of A.G. Leventis (Nigeria) Ltd. He is also a director of Alpheus Administration, a  private company that administers assets for 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. He is a co-founder of the Cyclades Preservation Fund

  • Board_Christo_Leventis Board_Christo_Leventis
    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, he 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. Christo Leventis is the Chairman of Alpheus Capital, a single family private equity investment office.

  • Board_Alexandra_Papalexopoulou Board_Alexandra_Papalexopoulou
    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. She holds a BA in Economics and Mathematics from Swarthmore College, USA, and an MBA from INSEAD, France. Alexandra Papalexopoulou is the Deputy Chair of the Group ExCom at Titan Cement Company S.A., where she has been employed since 1992 and has served as Executive Director since 1995. Alexandra Papalexopoulou 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 INSEAD business school and a member of the board of trustees of the American College of Greece.

  • board-bruno-pietracci board-bruno-pietracci
    Bruno Pietracci

    Non-Executive Director

    Bruno Pietracci was appointed to the Board of Directors of Coca‑Cola HBC in 2021. He is currently serves as President of Africa Operating Unit for The Cola-Cola Company, a role which he has held since 2020. He has a more than 20-years track record of transforming businesses, people and communities and brings extensive experience and knowledge of the Coca-Cola system, having held a number of roles at The Coca-Cola Company since 2008. From 2018 to 2020, Bruno Pietracci was President of The Coca-Cola Company’s Southern and East Africa Business Unit. From 2016 to 2018, he served as the Vice-President of Operations in Europe, Middle East and Africa. Prior to that, he was the General Manager for Colombia, Venezuela and Ecuador (from 2014 to 2016) and General Manager of FU Center in Brazil (from 2012 to 2014). From 2010 to 2012, he was the General Manager of FU South in Brazil. Bruno joined The Coca-Cola Company in 2008 as Vice-President of Strategy, Insights and Innovation in Brazil. Prior to joining The Coca-Cola Company, Bruno Pietracci worked at McKinsey & Company in Brazil and Portugal from 1997 to 2008, working in marketing and sales with consumer-packaged goods and telecommunications clients. Bruno Pietracci has served on the board of Coca-Cola Beverages Africa since 2017 and has also served on the boards of Toni Corp in Ecuador (2016) and Matte Leão in Brazil (2009). In 2016, he was the Chairman of Corporación Juego y Niñez in Colombia. Bruno Pietracci is a citizen of Brazil and Italy. Bruno holds a bachelor’s degree in mechanical engineering from the Universidade Estadual de Campinas in Brazil and an MBA from INSEAD in France.

  • Board_Robert_Ryan_Rudolph Board_Robert_Ryan_Rudolph
    Ryan Rudolph

    Non-Executive Director

    Ryan Rudolph was appointed to the Board of Directors of Coca‑Cola HBC on 21 June 2016. From 2006 until 2019 he was an attorney and partner at the law firm Oesch & Rudolph. From 1993 until 2006, he worked as an attorney at the business law firm Lenz & Staehelin in Zurich. Prior to that, he 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. Ryan Rudolph obtained an LLM from the University of Zurich and is admitted to the Zurich bar. Ryan Rudolph also studied at the Faculté des Lettres of the University of Geneva, as well as the Ecole Polytechnique in Lausanne. Ryan Rudolph is an attorney and partner at the Zurich-based law firm RCS Trust & Legal A.G. 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 and charitable foundations.

  • 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.