Coca-Cola CEO James Quincey elected company chair

Coca-Cola CEO James Quincey will become the Atlanta-based company's chairman, following approval by its board of directors.

Quincey will take over as chairman in April when current chairman, Muhtar Kent, retires.

“I’m honored that the board of directors has asked me to serve as chairman of the company,” said Quincey, who will serve as both company chair and CEO. “I appreciate the years of mentorship, encouragement and insights I’ve gained from Muhtar.”

Kent served both as chairman and CEO of Coca-Cola from 2009 to 2017. He began his career at the company in 1978.

"I'm delighted that the board has elected James as chairman. He is the right leader to take the Coca-Cola system to the next level and through the next decade," said Kent.

Quincey will become the 14th chairman of the company.

The board also elected Maria Elena Lagomasino to succeed former U.S. Sen. Sam Nunn as a lead independent director to the board. Nunn served on the board for 22 years.

Her duties at Coca-Cola will include leading the board’s annual evaluation of the chairman and CEO, calling meetings of independent directors, and approving board agendas.

According to the company, the new roles would be contingent upon the reelection of both Quincey and Lagomasino to the board in April.