Belfast Telegraph

Coca-Cola chief executive Muhtar Kent to step down next year

The chief executive of Coca-Cola, Muhtar Kent, will step down next year and be replaced by chief operating officer James Quincey.

The soft drinks giant said that Mr Kent will leave the top job on May 1 but will continue as chairman of the board.

Mr Kent, who has been boss of Coca-Cola for eight years, said: "Managing the Coca-Cola Company to ensure our long-term growth requires a thoughtful and orderly succession planning process.

"We are certain that James Quincey is prepared for these new responsibilities and is the absolute right choice to lead our company and system into the future."

The 51-year-old Mr Quincey has been with the Atlanta-based company for about 20 years and was named chief operating officer last year.

Warren Buffett, whose Berkshire Hathaway investment vehicle is one of Coca-Cola's biggest shareholders, added: "I know James and like him, and believe the company has made a smart investment in its future with his selection."