James Quincey was elected as the 14th chairman of The Coca-Cola Company (KO), succeeding Muhtar Kent, who plans to retire in April after a Coca-Cola system career that started in 1978.

Quincey, who currently serves as president and CEO, will become chairman following the company's annual meeting in April 2019. He will then serve as chairman and CEO. As previously announced, Brian Smith will become president and chief operating officer of the company on Jan. 1, 2019. Kent will remain as the company's chairman through the 2019 annual meeting, where he will not stand for reelection as a director. Kent served as both chairman and CEO from 2009 until 2017 and continued as chairman after Quincey became CEO.

The company also announced that Sam Nunn will not stand for reelection at the 2019 annual meeting, closing a 22-year tenure as a Coca-Cola director, including the last five years as lead independent director.

The board has elected Maria Elena "Mel" Lagomasino as Nunn's successor as lead independent director. Lagomasino joined the Coca-Cola board in 2008.