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Coca-Cola CEO Isdell To Step Down

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Coca-Cola Co. said Thursday that Neville Isdell will step down as chief executive of the world's biggest soft drink maker on July 1, and will be succeeded by the company's president and chief operating officer, Muhtar Kent.

Isdell will remain chairman of the board until the company's annual meeting in April 2009.

"We have accomplished a great deal in the last three and a half years, and I recognize my responsibilities -- to the company and to Muhtar -- remain unfinished until Muhtar is successfully launched as CEO," Neville Isdell said in a statement. "Management succession is the key final measure of any CEO's success, and I will do all I can to ensure our progress is secure for many years ahead."