Coca Cola chief exec to step down

Version 0 of 1.

Coca Cola chief executive Neville Isdell, who led a turnaround at the soft drinks giant, is to step down from his position next year.

The firm's chief operating officer, Muhtar Kent, will take over the chief executive role on 1 July, 2008.

Mr Isdell, 64, whose announcement was not expected, is to remain as chairman of the company until April 2009.

During his tenure, profits have risen steadily, particularly in international markets such as China.

Mr Isdell's move will mean that the chairman and chief executive roles will be split for the first time at the company.

The company did not say why Mr Isdell was relinquishing his post.

Mr Kent, 55, was born in the United States but has dual citizenship with Turkey.

Coca Cola has suffered a domestic slowdown in sales of its traditional soft drinks as health-conscious consumers switch to bottled water or tea.

Strength in emerging markets such as China, Russia and India have helped offset this weakness.