Coca-Cola, which has suffered from succession crises in the past, has now set in place what appears to be a smooth transition plan in its corporate suite.

Coke's president and chief operating officer, Muhtar Kent, will succeed Neville Isdell as chief executive officer of Coca-Cola, the company announced today.

Kent, who continues as president of the soft-drink giant, will assume his role as C.E.O. on July 1, 2008. Isdell will stay on as chairman until April 2009.

"This next management step, which draws on the successful partnership between Muhtar and me, ensures that we will continue to grow and enhance Coca-Cola's business around the world," Isdell said.

Having spent most of his career at Coca-Cola, Isdell was coaxed out of retirement in 2004 to help turn around a company badly in need of financial and strategic redirection.

"With the organization stabilized and sustainable growth clearly evident, I expect Muhtar to be outstanding as the leader of the committed team that developed and is now executing our manifesto—our 10-year strategic growth plan," Isdell said.

Before being appointed president and C.O.O. last year, Kent served as president of the North Asia, Eurasia, and Middle East Group for Coca-Cola.

Kent previously held the position of managing director of Coca-Cola Amatil Europe. Before that, he was the president of the east central European division, supervising the relaunch of Coca-Cola throughout East Central Europe.