Muhtar Kent stepping down as Coca-Cola CEO

Muhtar Kent would now resign from his role as chief executive in May 1, 2017, to be succeeded by James Quincey, the beverage company’s president and operating chief.

Mr. Kent has been chief executive since 2008 and will remain chairman of the Board of Directors.

As chief executive, Mr. Kent has made moves to diversify Coke beyond soda, spearheading the company’s $4.1 billion acquisition of Energy Brands Inc.—maker of Vitaminwater and Smartwater—in 2007 before becoming CEO.

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