Coca-Cola exec adds fizz to Ann Inc. board

Ann Inc. has named Coca-Cola executive Katie J. Bayne to its board of directors as the company looks to increase traffic and sales.

"Katie is an outstanding addition to Ann Inc.'s board of directors. She brings an exceptional background in strategic marketing and brand management that will add value to the company," said Ron Hovsepian, non-executive chairman of the board. "We're delighted to welcome her to the board and look forward to her insights and contributions."

Bayne serves as senior vice president of global sparkling brands at the Coca-Cola Co. Bayne is responsible for global marketing, portfolio strategy and innovation for all Coca-Cola brands. She also oversees worldwide licensing, retail and attractions for the Coca-Cola Co.

Last week Ann reported that same-store sales for the third quarter decreased 4.3%, compared to an increase of 3.7% in the third quarter of 2013, its first decline in same-store sales in 10 quarters. Ann attributed the decline to weak traffic and a labor strike.

Bayne joined Coca-Cola in 1989 in brand management and has since held roles of increasing responsibility, focused on consumer strategy, retail marketing and consumer marketing in the United States and Australia. From 2010 to 2013, she was president and general manager of sparkling beverages, Coca-Cola North America. Bayne will serve as a class I director with a term expiring in 2016.

Bayne's appointment increases the size of the Ann Inc. board to nine members, eight of whom are independent directors. Ann Inc. operates 1,050 Ann Taylor, Ann Taylor Factory, LOFT, LOFT Outlet and Lou & Grey stores in 47 states, the District of Columbia, Puerto Rico and Canada.