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 2009 meeting.
"This [image-nocss] is an appropriate and further recognition of Muhtar's outstanding leadership of our company," said James D. Robinson III, presiding director of Coca-Cola. "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."
He added: "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."
Atlanta-based Coca-Cola is the world's largest beverage company, offering nearly 500 sparkling and still brands. Along with Coca-Cola, 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, it is the No. 1 provider of sparkling beverages, juices and juice drinks and ready-to-drink teas and coffees.
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