ATLANTA–(BUSINESS WIRE)–The Board of Directors of The Coca-Cola Company today elected Muhtar Kent as chairman of the Board. Kent succeeds Neville Isdell, who retired following the Company’s Annual Meeting of Shareowners yesterday in Atlanta.
Kent was also re-elected as president and chief executive officer of the Company.
This completes the Company’s leadership succession plan that was announced in December 2007. Kent, 56, became CEO in July 2008 and, in December 2008, the Board announced that Isdell, 65, would not stand for election to the Board and that it intended to elect Kent as chairman following the Company’s 2009 Annual Meeting of Shareowners.
“This is an appropriate and further recognition of Muhtar’s outstanding leadership of our Company,” said James D. Robinson III, Presiding Director of The Coca-Cola Company. “The Board has tremendous confidence in Muhtar’s leadership and his vision to lead the Company beyond these turbulent times and continue on its progress toward long-term, sustainable growth. As president and CEO, he has assembled a uniquely qualified and experienced leadership team. The Company is in strong hands. We congratulate Muhtar on his new responsibilities.”
Added Mr. Robinson: “On behalf of the Coca-Cola family, I’d like to thank Neville for the exemplary leadership he brought to our Company, and his 43 years of dedicated service to our system. Neville guided our Company through a very difficult period, and while his accomplishments were numerous, he will be forever remembered for bringing back the winning spirit to Coca-Cola. We wish him and his family continued good health and happiness as they embark upon the next exciting chapter of their lives.”
The Coca-Cola Company is the world’s largest beverage company, refreshing consumers with nearly 500 sparkling and still brands. Along with Coca-Cola, recognized as the world’s most valuable brand, the Company’s portfolio includes 12 other billion dollar brands, including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, POWERADE, Minute Maid and Georgia Coffee. Globally, we are the No. 1 provider of sparkling beverages, juices and juice drinks and ready-to-drink teas and coffees. Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy the Company’s beverages at a rate of nearly 1.6 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that protect the environment, conserve resources and enhance the economic development of the communities where we operate. For more information about our Company, please visit our website at www.thecoca-colacompany.com.