Coca-Cola (KO) has elevated its current Chief Operating Officer (COO) Henrique Braun to the position of chief executive officer (CEO).
Braun will succeed outgoing CEO James Quincey on March 31, 2026, said the company in a news release. Quincey will remain executive chairman of Coke’s board of directors.
The CEO transition comes as Coca-Cola navigates tepid consumer demand for its soft drinks.
Quincey, age 60, has been the top executive at Coca-Cola since 2017. During that time, he oversaw the refranchising of Coke’s bottling system and focus on healthier beverages.
Braun, age 57, has held various roles at Coke since joining the company in 1996, the same year that Quincey joined. Braun became COO at the beginning of this year.
In the news release, Coca-Cola said Braun will focus on new growth opportunities around the world for the company and improving technology at the beverage giant.
Braun will also need to reverse slowing sales for Coke’s various sodas. In this year’s third-quarter, global sales rose 1% after falling in the previous quarter.
Coke has said that lower-income consumers are buying fewer of its drinks, and the company has rolled out cheaper and smaller versions of its products to help reverse the trend.
Coca-Cola has largely outperformed rival PepsiCo (PEP) during Quincey’s tenure, in part due to its stronger business in venues like restaurants and movie theaters.
Coke also continues to win the soda wars. Coca-Cola remains the best-selling soft drink in the United States.
KO stock has risen 14% this year to trade at $70.21 U.S. per share.
