JAMES QUINCEY

President and chief operating officer Becomes CEO on May 1, succeeding Muhtar Kent 52 Born in London. Degree in electrical engineering. Bilingual in English and Spanish. Married; two children. Hired in 1996. Rising positions with postings in Latin America, Europe and the U.S. A closer look at Coke’s new CEO still needed. “We’re working through redesigning the organization to be faster and more agile,” he said. “While these necessary changes are always very difficult, they will help us do fewer things better to lead and support our operating units.”

Coca-Cola spokesman Kent Landers said the job cuts will come from a pool of about 5,500 corporate employees in Atlanta and elsewhere.

Quincey said cost-cutting goals also will be met through reduced marketing spending and restructuring of some operations.

In 2015, Coca-Cola announced plans to cut costs by $3 billion by 2019. Including the new cost-cutting efforts, Quincey said that cost-cutting target now goes to $3.8 billion by 2019.

The last time Coca-Cola announced big job reductions was in early 2015, when the company said it would cut up to 1,800 jobs, including about 500 at its Atlanta headquarters. The company had about 8,900 people at its midtown Atlanta office at the time.

In Tuesday’s financial report, Coca-Cola reported big drops in both revenue and profits in the first quarter, mostly due to shedding bottling businesses.

Revenue declined 11 percent in the first quarter, to $9.1 billion from $10.3 billion a year earlier.

First-quarter profit declined 21 percent, to almost $1.18 billion from $1.48 billion a year earlier.

The report mostly showed flat financial results when the effects of restructuring efforts were removed.

In a report, Wells Fargo Securities analyst Bonnie Herzog said she was encouraged by Coke’s efforts to re-tool its business — but still waiting for improvement in the bottom line.

“We continue to believe that (Coke) has a significant opportunity ... following its “transition” period to re-accelerate earnings growth and demonstrate the merits of its strategic overhaul,” she said.