More than 30 women come forward to accuse director James Toback of sexual harassment

The Coca-Cola Company

Coca-Cola CEO Muhtar Kent to step down next year

Coca-Cola CEO Muhtar Kent to step down next year

Coca-Cola said Friday that Chief Executive Muhtar Kent will step down next year and be replaced by Chief Operating Officer James Quincey.

The world's largest beverage maker is under pressure to grow as people around the world drink less soda, including its flagship Coke. The Atlanta-based company reported in October that its third-quarter profit fell 28%. The company also makes Sprite, Fanta and Dasani water.

Kent will leave the CEO job on May 1 but will continue as chairman of the board. He has been CEO of the company for about seven years.

Quincey, 51, has been with the company for about 20 years. He was named...

EDITION: California | U.S. & World