DULUTH: Coca-Cola Co. sees a chance to increase its market share during the economic slowdown and doesn't plan to waste the opportunity, the chief executive of the world's largest beverage maker told shareholders Wednesday.

Muhtar Kent said at the company's annual meeting that Coca-Cola was poised to grow in these tough economic times, as it did during the Great Depression.

"There's no reason we cannot apply the same courage to navigate through the current crisis," Kent told shareholders. "Indeed, we will not waste this crisis."

Kent said it was possible that Coca-Cola would miss its growth targets a quarter or two this year. But he vowed that the company is committed to meeting or exceeding those targets over time.

He said the Atlanta-based business sees opportunities in pushing its top brands like Coca-Cola in emerging markets like China as well as in ones where it has solid footing, such as the U.S. and Mexico.

Predictions that the sparkling beverage business — including top brands like Sprite and Fanta — is declining are not true, he said, pointing to the success of newer Coke Zero, which he said grew 35 percent last year.

The company is also pushing a new 16-ounce, 99 cent version of its top brands, meant to be seen as a bargain from its 20-ounce bottles that cost between $1.25 and $1.50.

On Tuesday, Coca-Cola said its first-quarter profit fell 10 percent because of one-time costs and the dollar's strength abroad. The company said consumers overseas bought more of its products in the three-month period ending in March, but North American volume fell as consumers pulled back on their spending.

Investors were concerned about the drag of the U.S. dollar, which hurts companies that do business overseas as it gains strength.

The meeting marked the final change of power between outgoing chairman Neville Isdell and Kent, who took over as CEO from Isdell in July. The meeting marked Isdell's last as chairman.

In recent years, Coca-Cola's annual meeting has drawn protesters outside the hotel in Wilmington, Del., where the gathering is usually held. But this year, the meeting was held at a conference and entertainment center in Duluth, Ga., a suburb north of Atlanta. Protesters were kept about 150 yards from the front entrance of the Gwinnett Center. A rolling billboard attached to a truck with the words, "Unthinkable, Undrinkable" on the side passed through the parking lot every few minutes.

Inside the meeting, a few hundred shareholders gathered to hear from executives, ask questions and vote on several shareholder proposals, some of which involved restructuring executive pay.

Several shareholders addressed the board, some of them vocal, yelling questions past their allotted time and attempting to disrupt the meeting. The critics have been concerned about Coca-Cola's human rights record and business practices abroad.

Other shareholders asked about executive pay and the make-up of the board, urging the company to have younger members on the board.

Shares of Coca-Cola fell 20 cents to $42.89 in morning trading Wednesday.