Coke CEO Quincey to be chairman from April

Muhtar Kent, 65, held the reins of the company as chief executive and chairman from 2009 until 2017.

Coca-Cola Co said on Thursday Chief Executive Officer James Quincey would take on the additional role of chairman next April, when incumbent Muhtar Kent retires after four decades with the world’s largest beverages maker.

Kent, 65, held the reins of the company as chief executive and chairman from 2009 until 2017. He continued as chairman after Quincey became the chief executive.

Kent’s departure will be the second-high profile change in the beverage industry following Pepsico Chief Executive Officer Indira Nooyi’s decision to step down as chief executive of the company in October. She is also expected to relinquish her position as Chairman in early 2019.

“One of the most important jobs of a chairman is to ensure that a strong leadership succession plan is in place,” Kent said in a statement on Thursday.

“I’m delighted that the board has elected James as chairman. He is the right leader to take the Coca-Cola system to the next level and through the next decade.”