NEW YORK (CNN/Money) - Coca-Cola Co. promoted Steve Heyer to the positions of president and chief operating officer, the company announced Wednesday.

Heyer had been executive vice president at Coke overseeing Latin America, marketing and new business ventures, among other duties, since joining the company in April 2001.

Heyer, a former executive of Turner Broadcasting, will take a position vacant since Jack Stahl left Coke in a management reorganization in March 2001.

Shares of Coke (KO: up $0.25 to $46.75, Research, Estimates), a component of the Dow Jones industrial average, closed up 25 cents Wednesday.