Coca-Cola's president and chief operating officer Steven Heyer will leave the company on 1st September, the Wall Street Journal said today.
 
Heyer recently lost out on the job of CEO and chairman at Coca-Cola to E Neville Isdell. It was a position Heyer had seemingly been groomed for by the man Isdell replaced Douglas Daft.

But the WSJ cited an internal memo from Idell that said from September 1st the eight executives reporting to Heyer would instead report to him.

"Between now and the end of August, Steve will continue to work on a number of projects that he and I have agreed he should finalize before leaving," Isdell wrote, according to the newspaper.

The WSJ went on to say that Heyer has been in negotiations with New York-based Starwood Hotels & Resorts Worldwide about becoming CEO.

However, it added that no agreement has been reached.