On the Street -- Coke CEO Becomes Board Chair

April 23/Atlanta/Associated Press Financial Wire -- Coca-Cola Co.'s board of directors elected chief executive Muhtar Kent as chairman of the board.

The soft drink maker said Kent succeeds Neville Isdell. Isdell retired following the company's annual meeting in Atlanta.

The company's board said in December that Isdell would not stand for re-election as chairman and that the post would be given to Kent, who was also re-elected as president and CEO on Thursday. Kent became CEO in July.

At its annual meeting, Kent said the company may be able to boost its market share despite the global recession. He said there are opportunities in pushing its top brands like Coca-Cola in emerging markets and in ones where it has solid footing, such as the United States.

From the April 27, 2009, Prepared Foods E-dition