The Coca-Cola Company has appointed James Quincey, the president and chief operating officer, as the group’s new chief executive officer starting from May next year.
A company veteran, Quincey will be replacing chairman and CEO Muhtar Kent under the company’s senior leadership succession plan. Kent will continue as chairman of the board of directors.
Coca-Cola said Quincey will be nominated to stand for election as a director at the 2017 Annual Shareowners Meeting in April. Announcing the board’s unanimous decision, Kent said: “Managing the company to ensure our long-term growth requires a thoughtful and orderly succession planning process. I have been engaged with our management development committee and the full board on talent development and succession discussions throughout my tenure as CEO.”