MAM

Neville Isdel new Coca-Cola CEO

MUMBAI: The coronation of Neville Isdell as the new Coca-Cola Company CEO failed to create any excitement in theWall Street. Neville Isdell, an Irish citizen who retired in 2001 after more than 30 years with Coca-Cola and its bottlers, will replace chairman and chief executive Doug Daft in early summer, said an official release on Tuesday.

The 60-year-old Isdell, who oversaw Coke's heady expansion into India, Eastern Europe and other new markets in the 1980s and 1990s, inherits a company far different from the one beloved by investors during those salad years, says reports.

Isdell takes over at a time when the company is struggling to boost sluggish sales of its flagship Coca-Cola brand, stabilize a management team and calm investors spooked by U.S. government probes of alleged accounting fraud.

Isdell said on Tuesday he agreed with the current direction of the company and hoped to build on the legacy of Daft

The incoming Coke chieftain's first order of business, however, may be to deal with the fate of Coca-Cola President and Chief Operating Officer Steven Heyer, an ambitious former media executive who was groomed by Daft as an heir apparent when he joined the soft drink maker in 2001, suggests reports.

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