The contract with Khan had expired last month and the company has chosen not to renew it, industry sources said. When contacted, Coca Cola India declined to comment. The company's decision to not to renew the contract with the 50-year-old actor is more to do with the image of Coca Cola, which is seen as a young brand, a source said.
"That explains why Coca Cola is talking to a much younger star like Ranveer Singh," the source added.
The decision comes just 20 days after the Bollywood superstar courted controversy by supporting Pakistani artists on the debate whether they should be allowed to work in Indian movies following the Uri attack. It's not however clear whether Coca Cola India's decision was influenced by this controversy.
Khan has been among the top celebrity endorsers reportedly charging Rs 5 crore per year per brand.
At that time, Coca Cola India had also signed an agreement with Being Human, the Salman Khan foundation, to jointly promote, conceive and execute charitable and social activities.
(With PTI Inputs)
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