The US beverage giant said its board elected Henrique Braun as CEO effective on March 31.
James Quincey, Coke's chairman and CEO, will shift to executive chairman of the company.
Braun, 57, has worked at Coca-Cola for three decades.
Before assuming the COO role earlier in 2025, he led operations in Brazil, Latin America, Greater China and South Korea.
He has held positions overseeing Coke's supply chain, new business development, marketing, innovation, general management and bottling operations.
David Weinberg, Coca-Cola's lead independent director, called Quincey, 60, a "transformative leader" who would continue to remain active in the business.
During Quincey's nine years as CEO, Coke added more than 10 additional billion-dollar brands, including BodyArmor and Fairlife.
He also brought Coke into the alcoholic drink market with Topo Chico Hard Seltzer, which went on sale in 2021.
In 2020, Quincey led a restructuring that reduced Coke's brands by half and laid off thousands of employees.
Quincey said Coke wanted to streamline its structure and focus its investments on fast-growing products such as its Simply and Minute Maid juices.
But as Quincey steps down as CEO, Coke is facing numerous challenges, including tepid demand for its products in the US and Europe and increasing customer scrutiny of its ingredients.
Earlier in 2025, after a nudge from US President Donald Trump, Coke said it would release a version of its trademark Cola with cane sugar instead of high-fructose corn syrup.
Weinberg said the board was confident that Braun would build on the company's strengths and seek out growth opportunities globally.
Coke shares were flat in after-market trading.
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