Cadbury Schweppes has promoted executive director and chief strategy officer Todd Stitzer to CEO in a reshuffle of senior executives.
Stitzer will succeed current CEO John Sunderland who becomes chairman on May 8. Sunderland's role will be full-time until August 2005, after which the chairman's role will be reduced to a part-time position.
Sunderland will replace Derek Bonham who will have served as chairman for three years.
Senior independent director Roger Carr will become deputy chairman.
Bonham said: "John has been almost seven years at the helm and has a superb track record running Cadbury Schweppes. We believe it is in the interests of the company and its shareholders that his experience is retained and that he and Todd work closely together. Todd has an outstanding track record and will lead the next generation of management."