NEW YORK — Coca-Cola President Muhtar Kent will become CEO effective July 1, company chief Neville Isdell said yesterday.

Isdell, 64, who took the helm at Coca-Cola in June 2004, received the board's approval for the appointment as part of what he calls "proper succession." He will remain chairman until July 2009.

Coke's lack of a solid succession plan left the company's top management in turmoil prior to Isdell's arrival, when sales of the company's flagship soft drink and stock price spiraled downward. When Isdell took over, he had become Coke's fourth chief executive officer in seven years.

The change at the top comes at a time when Coca-Cola — and the beverage industry — is undergoing major change. Consumers are spurning carbonated beverages in favor of juices, sports drinks and waters. Isdell helped set a new strategy for Coke in that environment.

Since Isdell's arrival, he's improved relationships with bottlers and helped lead a recent turnaround, with sales and stock price on the rise. Coke's stock is up 19 percent since Isdell took over. In July, Coke purchased Glaceau, one of the industry's fastest-growing beverage brands. Under Isdell, Coke's developed stronger marketing and new products, including low-calorie beverage Coke Zero.

Coke closed at $63.07 yesterday, up 2 cents.