NEW YORK — Coca-Cola said Friday that CEO Muhtar Kent will step down as CEO next year and be replaced by Chief Operating Officer James Quincey.

The world’s largest beverage maker has been under pressure as people around the world drink less soda, including its flagship Coke. In October, the Atlanta company reported that its third-quarter profit fell 28 percent. Last year it rolled out a pricey milk drink called Fairlife that it says has more protein and less sugar than regular milk. The company also makes Sprite, Fanta and Dasani water.

Quincey, who was named president and chief operation officer last year, will take over as CEO on May 1. The 51-year-old has been with the beverage maker for about 20 years.

Kent, 64, will continue as chairman of the board after he leaves as CEO. He has been CEO for more than eight years and first joined the company nearly 40 years ago.

Shares of The Coca-Cola Co. rose 99 cents, or 2.4 percent, to $41.97 in morning trading Friday. Its stock is down about 1.6 percent since a year ago.