Source: beverage-innovation.com

The Coca-Cola Company will have a new Chief Executive from July, when Neville Isdell will step down as CEO and be succeeded by Muhtar Kent, currently President and Chief Operating Officer. But Isdell - who was called out of retirement in 2004 to turn Coke around - will remain in his second role as Chairman until the annual meeting of shareholders in April 2009.

"The Coca-Cola Company is an enterprise of sustained, long-term growth," said Isdell when the changeover was announced. "Diligent, detailed succession planning is a vital part of that growth plan. This next management step, which draws on the successful partnership between Muhtar and me, ensures that we will continue to grow and enhance Coca-Cola's business around the world."

Isdell continued: "I have been engaged with the Management Development Committee and the full Board in succession discussions and planning since my return in June 2004. We are very certain that Muhtar is prepared for this next transition in management responsibilities, and is the absolute right person to take our company to the next level of performance.

"Having worked closely with Muhtar for nearly 20 years, I know that his combination of industry knowledge, passion for operational excellence, strategic vision and high level of interpersonal skills is the ideal blend to take our company forward."

James Robinson III, Chairman of Cok's Committee on Directors and Corporate Governance, added: "The Board is pleased to have an individual of Muhtar Kent's experience, vision and dedication to the business as the next Chief Executive Officer of the company.

"Today's announcement signals a seamless transition from the remarkable leadership provided by Neville Isdell to an exceptional future under Muhtar's highly professional guidance and direction. In addition, the company will have the benefit of Neville's continued participation as Chairman until the 2009 shareowners'meeting."

Kent is a Coca-Cola veteran who first joined the company almost 30 years ago, and held a variety of marketing and operational posts leading to his appointment as President of the East Central European Division in 1989. Kent held this position until 1995, working closely with Isdell and guiding the highly successful relaunch of Coca-Cola in the former Soviet Bloc countries.

Kent was next appointed Managing Director of bottler Coca-Cola Amatil Europe, overseeing operations in 12 countries until his resignation in 1998. He then became President and CEO of Turkey's Efes Beverage Group, one of Europe's biggest international drinks businesses, whose interests include breweries as well as soft drinks bottler Coca-Cola Icecek.

Kent was enticed back to Coca-Cola by Isdell in May 2005, to help restore the company's flagging fortunes. Initially he was appointed President of the North Asia, Eurasia and Middle East Group - but was swiftly promoted to President of Coca-Cola International in January 2006, and then to President and Chief Operating Officer of The Coca-Cola Company in December 2006.

As COO, Kent has overseen a number of significant developments including the acquisition of the glac¨|au enhanced water brand earlier this year, while Coke's volume and earnings have recovered strongly.

"The opportunity to lead The Coca-Cola Company is an extraordinary honour, and I am grateful to the Board for the confidence it has placed in me," said Kent. "I look forward to building on the strong foundation for sustainable growth that we have set in place for the Coca-Cola system around the world."