NEW YORK Dan Palumbo, who resigned from Eastman Kodak last week, has joined the Coca-Cola as chief marketing officer, the company said. He reports to president and chief operating officer Steve Heyer, and replaces Stephen Jones, who left the company earlier this year.
Palumbo will work closely with WPP's Berlin Cameron/Red Cell, which handles Coke Classic, Dasani and Nestea Cool in the U.S., Interpublic Group's McCann-Erickson, which handles the Coke brand in most of the rest of the world, WPP's Ogilvy & Mather (Sprite and Fanta), and independent Wieden + Kennedy, in Portland.
Coke's 2003 ad spend for the U.S. alone is projected at $250-300 million.
At Kodak, Palumbo was senior vice-president, president of the Consumer Imaging division, the photographic unit that accounts for half of the company's sales.
In a statement, Heyer said, "Dan brings to Coca-Cola enormous experience in managing some of the world's largest and most familiar brands. His expertise will enable us to move with greater intensity and focus to drive profitable growth through innovative and integrated marketing."
"Across the world, Coca-Cola has more strength and opportunity than any other brand," Palumbo said in a statement. "I am honored and excited by this opportunity to be a steward of one of the most trusted and recognized brands in the world, as well as supporting the company's other current and emerging global beverage brands. I look forward to collaborating with Coca-Cola's world-class marketing team to help more consumers connect with the Company's brands and help drive local business results."
A graduate of the University of Toronto with a master's degree from Penn State, Palumbo has also worked for Procter & Gamble.