Can a new marketing chief put fizz back into Coke sales?

NEW YORK - Coca-Cola (KO) is naming a new chief marketing officer as the world's biggest soda maker works to boost flat soda sales.

The Atlanta-basedcompany says Marcos De Quinto, a company veteran, will replace Joe Tripodi starting Jan. 1.

The maker of Powerade, Fanta and Diet Coke this week outlined plans to significantly slash costs after reporting disappointing sales for its third quarter.

De Quinto currently heads Coca-Cola's Iberia division and is a vice president of the Europe group. He has also served in marketing roles in countries including Spain and Germany.

"Although Marcos' DNA is that of a marketer, he has held a number of leadership roles throughout his career and he will bring a global view with strong operational experience to this key role," CEO Muhtar Kent said in a statement.

Tripodi, who has headed Coca-Cola's marketing for the past seven years, oversaw the launch of Coke's "Open Happiness" campaign.

Tripodi will retire from the company at the end of February 2015.