The CEO of Coca-Cola Co. has agreed that the soft drinks giant has missed out on the healthy eating and drinking boom.

Speaking to investors and analysts yesterday (11 November), Neville Isdell said: "The emerging consumer trends in health and wellness were missed."

He added: "We stopped driving carbonated soft drinks, and we're the world leader."

Isdell yesterday unveiled plans to reverse Coke's recent poor run of form.

The plan includes an increase in advertising and innovation spend and a renewed focus on brand development.

The company also said that it had agreed a new market plan with its largest bottler, Coca-Cola Enterprises.

The agreement covers pricing, product mix and volume sales for its products in North America and Europe.