Coca-Cola CEO Stepping Down
Coca-Cola CEO Muhtar Kent is stepping down. James Quincey, the company’s president and chief operating officer, will become CEO on May 1, the company said.
Kent, who has been CEO for eight years, will continue as chairman of the board of directors. The board also intends to nominate Quincey as a director next year.
Quincey has worked for Coca-Cola for 20 years.
The company quoted longtime Coke investor Warren Buffett of Berkshire Hathaway praising Kent as an “excellent steward” of the company, and Quincey as a “smart investment” for the future of Coca-Cola.