Coca-Cola says its board of directors elected Chief Executive Muhtar Kent as chairman of the board.
The Atlanta-based soft drink maker says Kent succeeds Neville Isdell. Isdell retired following the company’s annual meeting Wednesday in Atlanta. The company’s board said in December that Isdell would not stand for re-election as chairman and that the post would be given to Kent. Coca-Cola Co. said Kent was also re-elected as president and CEO on Thursday. Kent became CEO in July.
This move can either make or break a company. Deciding to make the CEO also chairman of the board can turn the company in the wrong direction. However for Coca-Cola at the present time I believe that this is the right move.
