Beverage giant amends rules to create separate posts before Muhtar Kent takes over as chief eNEW YORK (AP) -- Coca-Cola Co., the world's biggest beverage company, said Tuesday that it amended its bylaws to separate the roles of chairman and chief executive before incoming CEO Muhtar Kent takes over in July.
In December, CEO E. Neville Isdell said he would step down, effective July 1, with Chief Operating Officer Kent taking over.
Isdell, who has been CEO since 2004, will serve as chairman until Coca-Cola's (KO, Fortune 500) annual shareholders meeting.
According to a filing with the Securities and Exchange Commission, shareholder approval is not needed to amend the Atlanta-based company's bylaws. xecutive officer this summer.
In December, CEO E. Neville Isdell said he would step down, effective July 1, with Chief Operating Officer Kent taking over.
Isdell, who has been CEO since 2004, will serve as chairman until Coca-Cola's (KO, Fortune 500) annual shareholders meeting.
According to a filing with the Securities and Exchange Commission, shareholder approval is not needed to amend the Atlanta-based company's bylaws. xecutive officer this summer.
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