NEW YORK (AP) — Coca-Cola says Muhtar Kent will step down as CEO next year and be replaced by Chief Operating Officer James Quincey.
Kent will leave the CEO job May 1 and will continue as chairman of the board. Kent has been CEO of the beverage maker for about 7 years.
The 51-year-old Quincey has been with the Atlanta-based company for about 20 years. He was named chief operating officer last year.
Shares of The Coca-Cola Co. rose 1 percent to $41.40 before the stock market opened Friday.