Coca-Cola Promotes Insider to CEO as It Pushes Beyond Soda (2)

Coca-Cola Co. said Chief Executive Officer James Quincey is stepping down and will be replaced at the end of March by Henrique Braun, the company’s chief operating officer.

Quincey, who is 60 and has been CEO for nine years, will transition to executive chairman, according to the company. He is currently chairman of the company’s board.

Henrique Braun

Photographer: Hollie Adams/Bloomberg

Coca-Cola shares slipped 1.1% at 11:23 a.m. in New York trading on Thursday. The stock had gained about 13% this year through Wednesday.

Analysts said the selection of Braun was unsurprising, given his increasingly prominent role in earnings calls and public appearances, ...