Coke to set up Indian advisory board soon

Softdrink giant Coca-Cola, which has been hit by several controversies in the recent past, has decided to set up an all-Indian advisory board to promote itself as an Indian firm, on the lines of Hindustan Lever Ltd.

A Coca-Cola executive, who said the board would be constituted soon, declined to reveal the names of those who would be placed on it because negotiations were still on.

But he said the board would be similar to the global advisory board set up by the parent company, but on a national scale.

"The problem is that we are being seen as a multinational firm operating in India only for profit. The employment or wealth that we generate or the value that we add in the food supply chain is being overlooked. The advisory board, comprising eminent Indians, will advise us on our business in India and look into corporate governance issues," the executive said.

Industrialists, chief executives, lawyers and economists, among others, have been sounded out. There will be around eight members on the board.

Coca-Cola India's official spokesperson could not be reached for comment.

The company has been in the middle of several controversies in India since it began operating afresh in 1993, after an unceremonious exit in 1977. Earlier this year, the company's bottled water and softdrink business was hit by the pesticides controversy.

Now, an alleged sexual harassment case involving a senior Coca-Cola executive and former Miss Universe Sushmita Sen""the company insists there is no such case and a contractual discord is being misinterpreted""threatens to dent the company's image.