Coca-Cola names new executive

Dec 6, 2007, 18:04 GMT

Atlanta, Georgia - Coca-Cola has appointed Muhtar Kent to succeed Neville Isdell as chief executive of the world's largest soft drink maker, the company said Thursday.

Kent, 54, who currently serves as president and chief operating officer, will take over as chief executive on July 1. Isdell, 63, who has led the company since 2004, will remain chairman until April 2009.

As chief operating officer, Kent oversaw the company's largest acquisition, purchasing vitamin water maker Glaceau for more than 4 billion dollars. Coca-Cola aims to increase its share of the still beverage market, expanding beyond sugary soft drinks in a bid to compete with PepsiCo, which leads in that portion of the beverage market.

Kent, who was born in Turkey, first came to Coca-Cola nearly 30 years ago, and has served as president of its East Central European Division and managing director of Coca-Cola Amatil Europe. He left the company in 1999 to serve as chief executive of Turkish company Efes Beverage Group.

In 2005, he returned to Coca-Cola as president of the North Asia, Eurasia and Middle East group, before becoming company president and then chief operating officer in 2006.

Coca-Cola, with 70,000 employees, had revenue of 24.1 billion dollars and recorded a profit of 5.1 billion dollars in 2006.