Beverage major Coca-Cola on Thursday announced the appointment of Sanket Ray as the new President of India and Southwest Asia. At the same time, it has appointed T Krishnakumar, who is the current President of India and Southwest Asia as the Chairman of Coca-Cola India Inc.

This announcement is part of the beverage major's broader global restructuring plans which was first announced on August 28.

"T. Krishnakumar, current president of the India and Southwest Asia business unit, will be chairman of Coca-Cola India Inc. He will be responsible for building and strengthening critical local partnerships in India, supporting the new operating unit leadership team," Coca-Cola said in a statement.

Ray is currently the Chief Operating Officer for Coca-Cola's Mainland China operations and was previously CEO at Coca-Cola Beverages Vietnam Ltd.

Voluntary layoff package

Under the global restructuring plans, the company has decided to merge over 17 groups and business units to set up nine operating units.

"The company’s nine operating units will replace current groups and business units, effective Jan. 1, 2021, subject to a consultation where required under local laws. These changes will help eliminate duplication of resources and enhance the company’s ability to scale new products more quickly," the company's statement added. Last week, Coca-Cola had also said that it would offer voluntary layoff packages to employees who qualify, starting with about 4,000 workers in the U.S., Canada and Puerto Rico.