Kent to Succeed Isdell at Coke

The Coca Cola board of directors yesterday voted to appoint COO Muhtar Kent to succeed Neville Isdell as chief executive of the world's largest soft drink company, effective July 1, 2008.

Isdell, 64, who was brought out of retirement in 2004 to lead a turnaround at Coke, will remain chairman until the company's annual shareholder meeting in April 2009.

Kent, who will remain president of the Atlanta-based company, helped orchestrate the acquisition of vitamin-water maker Glaceau earlier this year, and is given credit for Coke's strong volume and double-digit earnings growth so far this year.

A native of Turkey, Kent, 55, has been the clear heir apparent for well over a year, according to John Sicher, editor and publisher of industry newsletter Beverage Digest, as quoted by Reuters.

"It makes perfect sense. Kent is very highly regarded throughout the Coke system and has virtually spent his life preparing for this job," Sicher said. "It's also a positive having Isdell stay on as chairman because it will make for a very good and smooth transition."