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CCTV Script 10/12/18

— This is the script of CNBC's news report for China's CCTV on December 10, 2018, Monday.

The departure of Coca-Cola co. Chairman Kent has been described by industry insiders as one of the beverage industry's "most dramatic high-level changes. Speaking of Kent, it can be said that Coca-Cola's growth in the past few decades is closely related to him.

Since joining Coca-Cola in Atlanta in 1978, Mr. Kent has held a variety of management positions throughout his career, including marketing and operations, Kent served as chairman and chief executive of Coca-Cola from 2009 to 2017. In 2017, he continued to serve as chairman after James Quincey becoming CEO.

In a recent interview, Kent told CNBC that he is pleased with Coca-Cola's growth over the past few decades.

MUHTAR KENT, Coca Cola Chairman

40 years ago, at coke, we hardly knew what fruit tree look like, and today we have more than 20 million fruit tree underplantation around the world in 4 continents . we are the largest supplier of juice.

In April, Muhtar Kent will hand over the baton of chairman to the current chief executive James Quincey. It can be said that Coca-Cola will usher in the era when James Quincey is in full charge of the company. Many outside think adjusting personnel intensively is because of its overall performance.

Considering its sustainable development, Coca-Cola's senior personnel adjustment will provide a good support for the company's medium - and long-term development, and its non-carbonic acid field layout should be further accelerated.

MUHTAR KENT, Coca Cola Chairman

consumers want more choice than ever before, they want differentiation , they want personalization and we have to stay ahead of all these trends.

It also means that in terms of future strategies, due to the rising tide of healthy living concepts, Coca-Cola this giant has to get rid of the over-dependence on carbonated drinks and accelerate the transformation into a "full-category beverage company. As we have seen, Coca-Cola has also been making frequent efforts to expand new categories recently.

On August 31st Coca-Cola announced that it would buy Costa, a coffee chain, for $5.1 billion, half a month later, the company announced the acquisition of Mojo, an Australian organic tea brand, to expand the company's line of healthy drinks. The company also introduced soda brand Moxie and Nigerian juice company Chi etc. Finally, Muhtar Kent said the Chinese market remains crucial to Coca-Cola.

We know that when MUHTAR KENT became chairman and CEO of Coca-Cola in 2009, he announced that he would increase the capital in China market by 2 billion US dollars in three years. And he believes that under the leadership of the new chairman, the main investment strategy in China will not change. Finally, Kent also commented on the recent global trade dispute, saying that multinational companies are indeed very concerned about it, which has also exacerbated the volatility in the stock market.

MUHTAR KENT, Coca Cola Chairman

I think there's not just one reason why the markets are volatile. I think there are multiple perhaps sometimes the market runs ahead of itself and then pulls back. But I think there is just a lot of political uncertainty in the world.

But Kent also mentioned that markets will eventually find a new balance point when new agreements are reached.