Coca-Cola CEO Muhtar Kent to Step Down

Coca-Cola(ATLANTA) — It appears some changes are in store at Coca-Cola. After eight years as the beverage company’s CEO, Muhtar Kent is stepping down, effective May 1, 2017, the company announced Friday.

In a company statement, Kent said Coca-Cola’s current President and Chief Operating Officer, James Quincey, will take over as CEO when he steps down next year.

“One of our Board’s key priorities is developing the next generation of leaders and James [Quincey] is a perfect example of our talent pipeline in action,” said Kent, who will continue at Coca-Cola as Chairman of the Board of Directors.

Quincey, 51, is a veteran in the beverage industry, and has worked at Coca-Cola in various roles for the last 20 years.

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