Athens – Greece – 17 May 2004 – Coca‑Cola Hellenic Bottling Company S.A. (Coca‑Cola HBC, CCHBC, the Company) announced today that Mr Bill Douglas, has informed the board of his intention to return to his native USA.

Mr Douglas, who has spent the last thirteen years in various senior positions within the Coca‑Cola system in Europe, will be leaving the Company in July, having effected a smooth and efficient hand-over. Mr Douglas will be joining Coca‑Cola Enterprises, the largest bottler of the Coca‑Cola system, and his duties will be the subject of a separate announcement issued by them.

Mr Nik Jhangiani will replace Mr Douglas as the Company’s Chief Financial Officer. A full biography of Mr Jhangiani is provided below.

Doros Constantinou, Managing Director of CCHBC commented: “The last four years have seen our business transformed, from its inception as Coca‑Cola HBC, into the unqualified success that it is today. During this period, Bill has built and managed a strong cross-border team, which has been central to this growth and development. We appreciate his substantial contribution to the business and I am also personally grateful for the support he has given me over the past year. I reluctantly accept his decision, appreciating that the time has now come for him to return to the USA".

The legacy of this success is that we are able to promote such a capable internal candidate, with particularly strong credentials and a deep knowledge of our business. I am sure that Nik will prove to be as successful in the role as Bill has been”.

Commenting, Bill Douglas said: “My years at Coca‑Cola HBC have been extremely satisfying and enjoyable. I am very proud of what our team has achieved, and grateful for the support of our Chairman and the rest of the CCHBC board throughout my tenure. The time is now right for me to join my family, who decided to return to the US a year ago. I am pleased to be able to hand over my responsibilities to a colleague whose professional capabilities and integrity I know and respect.”

Coca‑Cola HBC is one of the world's largest bottlers of products of The Coca‑Cola Company and has operations in 26 countries serving a population of more than 500 million people. CCHBC shares are listed on the Athens Exchange (ATHEX: EEEK), with secondary listings on the London (LSE: CCB) and Australian (ASX: CHB) Stock Exchanges. CCHBC’s American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE: CCH). 

Biography of Nik Jhangiani

Nik Jhangiani joined The Coca‑Cola Company in 1998 as an international audit manager responsible for the Asia-Pacific Group based out of Atlanta. In September 2000, Nik transferred to Coca‑Cola HBC as the Director of Corporate Audit based in Vienna, where he was instrumental in establishing a solid communication link between the Audit Committee and senior management and successfully integrated the audit process across the Group.

In January 2002, Nik was promoted to his current role of Group Controller. During the last two years, he has worked closely with both the CFO and the Investor Relations team, coordinating the external reporting and disclosure/compliance requirements under US GAAP and IFRS reporting standards. In addition, he established an integrated financial services team serving as the communication link and relationship builder between the field operations and CCHBC’s headquarters. The role of the financial controller within CCHBC is closely linked with the group strategic planning activities. Nik has been an integral part of the team which shaped CCCHBC post inception: acquiring the Russian and Baltic territories, co-ordinating CCHBC’s listing in the NYSE and executing a €473m leveraged re-capitalisation of the Company’s balance sheet.

Prior to joining the Coca‑Cola system, Nik has held various audit and operational finance roles with Colgate-Palmolive Company, including serving as Finance Director for their start-up operation in Nigeria for three years. He started out his career in the New York office of Deloitte and Touche.

Nik is married with two children, lives in central Athens and is a citizen of the United States.



Company Contacts:

Coca‑Cola HBC

Melina Androutsopoulou

Director of Investor Relations



Tel: +30 210 618 3229


Coca‑Cola HBC

Thalia Chantziara

Investor Relations Analyst


Tel: +30 210 618 3124


European Press Contact:

Alastair Hetherington

FD Athens


Tel: ++30 210 725 8194

Mobile: +30 694 775 2284


U.S. Press Contact:

Brian Maddox

FD Morgen-Walke


Tel: +1 212 850 5600


  Coca‑Cola HBC’s website is located at