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Friday announced that E. Neville Isdell will formally assume the positions of chairman and chief executive officer on Tuesday, June 1. Isdell was tapped to succeed Douglas N. Daft as the 12th chairman of the board in the history of the company earlier this month.

Isdell left his position and the company in 1998, after he was passed over for the CEO position in favor of Douglas Ivester. During his time away from Coca Cola, he headed up Coca-Cola Beverages, one of the publicly owned bottlers, before retiring to Barbados three years ago to run his own private investment company.

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During his long career with the company, Isdell, among other things, ran its Central European Division and Northeast Europe/Middle East and Africa Group. In 1995, he became president of the company's Greater Europe Group.

Isdell was born in Northern Ireland, but was raised in South Africa. He holds a bachelor's degree in sociology from the University of Cape Town, South Africa, and attended the program for management development at the Harvard Business School. He started his career with Coca-Cola in the mid-1960s as a distribution manager in Zambia.

Coca Cola shares last traded down one cent, or .02%, at $51.31.