Coca-Cola Co. veteran Don Keough said Friday the company is in good hands as it begins a new era under Chief Executive Officer Muhtar Kent.

Keough, Coke's president and chief operating officer from 1981 to 1993, rejoined the company as a board member in 2004. He has a book, "The Ten Commandments for Business Failure," coming out this month.

Kent, formerly president and chief operating officer, took over July 1 as CEO for Neville Isdell, who will remain as chairman of the board through the 2009 shareholders meeting.

Isdell became CEO in 2004 during a tumultuous period at the Atlanta-based beverage giant. Coke had gone through two waves of job cuts and two CEOs —- Douglas Ivester and Doug Daft —- who retired before a successor had been named.

"Neville had a way of calming the waters," Keough said in an interview Friday.

Kent, recruited by Isdell back to Coke from a Turkish bottling company, has the skills to guide the business for the future, Keough said.

"You don't count a victory at 18 days," Keough said. "But I think he's a person who can take what Neville has put on the table and expand it beautifully."

Kent understands the business from different perspectives, Keough said. Kent has worked for Coke and Coke's bottlers in a range of markets. "He knows where the problems are," Keough said. "He knows where the opportunities are."

Kent knows that the business comes down to "what happens when the consumer meets the product in 200 countries around the world," Keough said.

Kent has a strong focus on productivity that should make the company stronger as it faces some economic head winds, Keough said. Earlier this week, Kent said he planned to cut $400 million to $500 million in annual costs through productivity initiatives by the end of 2011.

"Every great company needs to have the top managers take a look periodically at the company and make sure every part of the company is focused on the marketplace," Keough said.

Keough counts Kent both as a friend and a business colleague, but he declined to divulge any advice he has given the new Coke CEO.

"As a director, you're paid to give advice, and that advice is confined to the boardroom," Keough said.