The Coca-Cola Co chairman Neville Isdell has said he is to step down, clearing the way for current president and CEO Muhtar Kent to replace him.

Isdell, who became Coca-Cola CEO in 2004 and is widely credited with having led a turnaround in the group's fortunes, said in a letter to the board that he would not stand for re-election as chairman in April 2009.

Coca-Cola said today (11 December) that it would nominate Isdell's successor, Muhtar Kent, as the new chairman.

The move is part of a succession plan announced in December last year.