Coca-Cola Names James Quincey To Succeed Kent CEO; Kent To Continue As Chairman

(RTTNews) - Coca-Cola Co. (KO) said Friday that its board has approved unanimously the recommendation of Chairman and Chief Executive Officer Muhtar Kent for an evolution of the company's senior leadership structure. Under the new structure, James Quincey, President and Chief Operating Officer, will succeed Kent as CEO, effective May 1, 2017. Kent will continue as Chairman of the Board of Directors.

The Board intends to nominate Quincey to stand for election as a director at the 2017 Annual Shareowners Meeting in April.

Quincey, 51, was named The Coca-Cola Company's President and Chief Operating Officer in August 2015. Prior to this role, Quincey served as President of The Coca-Cola Company's Europe Group.

Quincey served as President of the Northwest Europe & Nordics Business Unit (NWEN) from 2008 to 2012. From 2005 to 2008, Quincey was President of the Mexico Division.

Quincey joined The Coca-Cola Company in Atlanta in 1996 as Director, Learning Strategy for the Latin America Group, and went on to serve in a series of operational roles of increased responsibility in Latin America, leading to his appointment as President of the South Latin Division in 2003.

Prior to joining Coca-Cola, he was a Partner in strategy consulting at The Kalchas Group, a spin off from Bain & Company and McKinsey.