Major outgoing CEOs are citing AI as a factor in their decisions to step down

In this article KO WMT Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 7:20 07:20 Coca-Cola CEO James Quincey: It was time for someone else to lead the next wave of growth Squawk Box Two major CEOs told CNBC in recent months that the rise of artificial intelligence contributed to their decisions to hand over the reins and step down from their positions. It's one of the latest insights into how America's corporate leaders are sizing up the AI transition. Coca-Cola CEO James Quincey told CNBC's "Squawk Box" on Thursday that his decision to step down from his role was influenced by larger "waves of the organizational momentum." "My job is also to think who's the best team to put on the field to get the next wave done," Quincey said. "And I concluded that, actually, it was time to put someone else on the field for the next wave of growth." Quincey, who has served as CEO of the beverage giant since 2017, will be succeeded by current COO Henrique Braun, effective at the end of this month . "In a pre-AI, a pre-gen-AI mode, we made a lot of progress. But now there's a huge new shift coming along," Quincey said. While he said he's leaning into the technological advances, he believes the beverage company needs "someone with the energy to pursue a completely new transformation of the enterprise." That person, Quincey said, is Braun, who he believes will uniquely equip the company to embrace its next chapter. Quincey's comments echo sentiments from former Walmart CEO Douglas McMillon in December ahead of his departure from that role. watch now VIDEO 6:57 06:57 Walmart CEO Doug McMillon on tenure: You can't get growth without change Squawk Box McMillon, who had held the position as CEO of the global retailer since 2014, told CNBC's "Squawk Box" at the time that he had decided to hand over the role to someone "faster." John Furner, who was previously head of Walmart U.S., took over the top job on Feb. 1. "With what's happening with AI, I could start this next big ...