New York, January 14, 2026, 14:29 ET — Regular session
- Coca-Cola shares climbed after the company paused its sale of Costa Coffee and announced changes to its operating leadership
- Starting March 31, a new chief digital officer will take over duties previously handled by CFO John Murphy
- Attention shifts to Coca-Cola’s earnings call on Feb. 10 and its investor conference spot on Feb. 17
Coca-Cola shares edged up 0.4% to $71.51 in afternoon trading Wednesday, following news of leadership changes and a report that the company has put its Costa Coffee sale plans on hold.
The Costa decision is significant because it leaves a troubled asset on Coca-Cola’s balance sheet just as investors demand that major consumer companies streamline their portfolios and tighten capital discipline. According to the Financial Times, bids for Costa didn’t meet Coca-Cola’s expectations, leading the company to halt the sale process for the moment. (Financial Times)
This comes amid a shift back toward defensives. The Consumer Staples Select Sector SPDR Fund gained roughly 1.4%, even as the S&P 500 tracker SPY slipped about 0.8% during that period.
Coca-Cola is overhauling parts of its operating structure as Henrique Braun prepares to take over as CEO at the end of March. “We are evolving our operating organization structure and elevating digital leadership so we can move faster and work smarter across all markets,” Braun said in a statement. (The Coca-Cola Company)
A recent U.S. regulatory filing, the 8-K used to report significant corporate developments, detailed the planned shifts. Coca-Cola announced the creation of a chief digital officer position. Sedef Salingan Sahin is slated to take over duties now handled by CFO John Murphy. Meanwhile, Manolo Arroyo will step into an expanded role covering customer and commercial leadership. (SEC)
The Financial Times reported that Coca-Cola halted talks with the last bidders for Costa in December, following a months-long auction process. Reuters noted neither Coca-Cola nor Costa responded immediately to requests for comment and said it couldn’t independently confirm the report. (Reuters)
Coca-Cola’s decision to hold Costa sends mixed signals in the short term. Keeping the brand maintains optionality if valuations climb, but it also means management remains tied up with turnaround challenges in a business acquired as a growth play beyond soda.
PepsiCo shares climbed roughly 1.7% today, spotlighting the broader beverage sector as investors assess pricing strength, volume shifts, and input expenses ahead of earnings season.
The downside is clear: if Costa keeps underperforming and Coca-Cola can’t pinpoint a solid way to boost returns—or if the leadership changes throw off execution—the narrative flips from “patience” to “dead money.” Then the market begins factoring in a drawn-out, more complicated turnaround.
Coca-Cola’s next major date is its Q4 2025 earnings call on Feb. 10, with a follow-up at the CAGNY 2026 conference a week later, on Feb. 17. Investors will be eager for updates on Costa, digital spending strategies, and Braun’s approach to leading the company starting March 31. (The Coca-Cola Company)
