Coke turnaround plan beginning to bear fruit: CEO

Empty Coca Cola Can

Coca-Cola has a lot of work to do to turn around its business, but positive first quarter results signal the company is on the right track, Chairman and CEO Muhtar Kent said Friday.

"This is not about the single quarter. Yes, we were pleased with our results, but it's a work in progress," Kent told CNBC's "Squawk on the St 15838381 reet." "But yes, the strategy of what we're trying to do is beginning to bear fruit, and we'll just continue relentlessly in executing that strategy of more focus on our revenues and productivity."

The company's productivity program will allow it to dial up its marketing, Kent said, after which Coca-Cola would "rewire" its organization, focus on its core business, and speed up its refranchising efforts.

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Coca-Cola on Wednesday reported a rise in revenue for the first time in nine quarters, helped by a 6 percent rise in revenue from North America, its biggest market.

The world's largest beverage company and maker of the iconic Coca-Cola brand has felt the pain of 10 straight years of decline in the soft drink segment as consumers shift to healthier options.

Coca-Cola stock has been trailing that of its rival PepsiCo in the last year. During that period, Coke stock was flat while Pepsi stock rose 12 percent.

-Reuters contributed to this story.

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