Coca-Cola has confirmed it will retain full ownership of Costa Coffee, following months of speculation over a potential divestment of the UK-based café chain.

Coca-Cola will discontinue its frozen product portfolio, including the Minute Maid frozen line, across the US and Canada as it responds to changing consumer preferences, according to Reuters.

Coca-Cola will expand its cherry-flavoured soft drinks portfolio in North America, launching a new Cherry Float variant and reintroducing Diet Coke Cherry nationwide.

Coca-Cola has revealed a sweeping overhaul of its operational leadership, including the creation of a new chief digital officer role, as the soft drinks giant moves to accelerate technology adoption and sharpen execution across fast-growing emerging markets.