Coca-Cola told investors yesterday that it has delivered on its promise to reduce marketing costs by reducing its agency roster worldwide. CEO Muhtar Kent said Coke has slashed its agency roster by more than half.

“We have consolidated our agencies,” he said. “Agency numbers have gone down by more than half, and I think we have driven a lot of efficiencies in our marketing, our market research costs, in our marketing over the past 12 months.”

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