Quincey was speaking during the CEO Council Summit hosted by U.S. newspaper the Wall Steet Journal in London, the UK.
According to him, Coca-Cola could see its Russian business “entirely vanish at some point,” should the war Ukraine drag on for a while.
In March, the company paused sales of ingredients for its soft drinks to Russian franchises.
Among other companies, Coca-Cola faced criticism over its decision to not close down Russian operations following the Russian invasion of Ukraine. Quincey, however, said that private enterprises like Coca-Cola have no influence on world governments.
“Symbolic gestures are important, but they would never be the deciding factor,” he said.
On Feb. 24, Coca-Cola shut down its Ukrainian factory.
In March, the company confirmed it continues to operate in Russia: “All Coca-Cola operational, production, and logistical capacities are working in Russia; we continue to fulfil our obligations to partners, society, and thousands of our employees in Russia.”
As a consequence, a number of large Ukrainian retailers stopped carrying Coca-Cola products.
On March 9, the company announced a halt to its operations in Russia, but did not specify what exactly that entails.
Coca-Cola operates 10 soft drink factories in Russia.