Industry News | December 11, 2008

Coke CEO to Become Chairman of the Board

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The Coca-Cola Company received a letter from its Chairman of the Board, Neville Isdell, confirming that, consistent with the succession plan announced in December 2007, he will not stand for re-election to the Board of Directors at the April 2009 Annual Meeting of Shareowners. James D. Robinson III, presiding director of The Coca-Cola Company, also announced that the Board intends to elect president and CEO Muhtar Kent to succeed Isdell as chairman of the board following the April Annual Meeting of Shareowners.

“I have always believed that well-conceived and well-executed succession planning is a vital responsibility of public company boards,” says Isdell. “We met that responsibility when we announced one year ago just such a plan, including placing the future leadership of the company in the experienced and talented hands of Muhtar Kent, who is providing outstanding leadership as he manages both for today and tomorrow.”