Warren Buffett Praises Coca-Cola's Incoming CEO James Quincey

Coca-Cola (KO) - Get Report CEO Muhtar Kent is stepping down in May and he will be replaced by Coke's COO James Quincey. Following the announcement, Quincey spoke on a conference call and said, "We will push into new categories, and will get into other things." But, Quincey stopped short of saying Coca-Cola will follow rival PepsiCo (PEP) - Get Report into the snacks business as it still sees plenty of "untapped potential" in the beverage industry. To many industry insiders it comes as no surprise that Quincey was tapped for the job. Quincey has held various posts around the world with Coca-Cola since he joined the company in 1996.

This article was written by a staff member of TheStreet.