The Coca-Cola Company (NYSE: KO) announced that Maria Elena Lagomasino will retire from its board of directors in April after 18 years of service, according to a press release statement.

Lagomasino, 76, joined the board in 2008 and served as lead independent director from 2019 to 2024. She will not be renominated for election and will conclude her service on April 29, in accordance with the company's corporate governance guidelines.

Following Lagomasino's retirement, 12 directors will stand for election at Coca-Cola's annual meeting of shareowners.

"I know I speak for many people at our company in thanking Mel for her service to Coca-Cola," said James Quincey, Chairman and CEO. "Mel has been a great partner, a respected advisor and a vital mentor to many people."

Since 2013, Lagomasino has served as CEO and Managing Partner of WE Family Offices, a global family office serving high net worth families. She previously held leadership positions at GenSpring Family Offices from 2005 to 2012 and JPMorgan Private Bank from 2001 to 2005. She currently serves as a director of The Walt Disney Company.

"It has been an honor and a privilege to serve as a member of the board of The Coca-Cola Company," Lagomasino said. "I look forward to watching the company's continued success."