Coke Creates Ad Group, Emerging Markets Unit

Coca-Cola Co. started a new advertising group and emerging markets division in a bid to catch PepsiCo Inc., whose sales have grown three times faster.

Mary Minnick, who leads the Asia unit, will run the marketing and new products unit, Atlanta-based Coca-Cola said. The developing markets unit will focus on faster-growing regions, including China, Russia and Eastern Europe. The changes are effective May 1.

Coca-Cola shares fell 22 cents to $41.18 on the NYSE.