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Muhtar Kent to step down as CEO of Coca-Cola

By Ed Adamczyk
Coca-Cola Co. CEO Muhtar Kent (C) attends a concert with Bono, L, and Alicia Keys, R. in Washington in 2011. The company announced Friday that Kent will leave the CEO position in May. File Photo by Roger L. Wollenberg/UPI
Coca-Cola Co. CEO Muhtar Kent (C) attends a concert with Bono, L, and Alicia Keys, R. in Washington in 2011. The company announced Friday that Kent will leave the CEO position in May. File Photo by Roger L. Wollenberg/UPI | License Photo

ATLANTA, Dec. 9 (UPI) -- Coca-Cola Co. announced Friday that Muhtar Kent will step down as chief executive officer, a position he has held since 2008.

Kent led the company's diversification away from sugar-laden soda drinks before he became CEO. In 2007 Coca-Cola acquired Energy Brands Inc., makers of Vitaminwater and Smartwater, and later spent $4 billion to buy minority stakes in coffee maker Keurig Green Mountain Inc., energy drink maker Monster Beverage Corp and organic juice company Suja Life LLC, a maker of organic, cold-pressed juices. The company also acquired organic tea maker Honest Tea and Zico coconut water. Coca-Cola also began production of Fairlife, a lactose-free milk.

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Kent will remain with the company as chairman of the board of directors. The CEO position will be taken by James Quincey, current Coca-Cola president. Quincey, who has been with Coca-Cola since 1996, was involved in the company's growth in Eastern Europe, parts of the former Soviet Union and other emerging markets.

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