Coca-Cola Co.'s board of directors have elected a new executive vice president and declared the company's quarterly dividend. Donald R. Knauss, who was named president and COO of Coca-Cola North America in February, takes over the position.

The board also declared a regular quarterly dividend of US$0.25 per common share, a 14% increase from last year's regular quarterly dividend. The dividend is payable on 1 July 2004 to share owners of record as of 15 June this year.

Knauss joined the company in 1994 as senior vice president of marketing for The Minute Maid Company, and was named senior vice president and general manager of the US Division in 1996. He served for nearly two years as president of the Southern Africa Division, managing the company's business in 10 countries of Southern Africa. He was named president and chief executive officer of The Minute Maid Company in 2000, and became president of the Retail Division of Coca-Cola North America last year.