Word: ands
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Dates: during 1990-1999
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In fairness, Ivester inherited Goizueta's strategy. And he took office just as Coke's foreign markets, which account for nearly 75% of its profits, were sinking from Moscow to Manila beneath a worldwide wave of currency devaluations. That tanked sales and turned many of the lavish investments that Coke...
That led to clashes with overseas regulators, who have long suspected the company of attempting to Coca-Colonize the planet. In one confrontation last spring, the European Community forced Coke to scale back its $1.85 billion purchase of the foreign rights to Cadbury Schweppes beverage brands, which prevented the company...
Then, in July, European authorities conducted a series of dawn raids on Coke facilities from the Continent to Britain in search of evidence that the company was offering retailers illegal kickbacks for favored shelf space. That investigation is ongoing. And last month French authorities rejected Ivester's $840 million bid...
Fortunately for Coke's board of directors, diplomacy is just one of Douglas Daft's strengths. The 30-year company veteran has spent most of his career overseas, building successful businesses in the uncertain, even untrammeled markets of the Middle East and Asia. If Ivester seems almost uncomfortable outside the...
Syrup may prove to be one of Daft's biggest challenges, assuming that he takes office as CEO next April. In what seems to many analysts to be an ever desperate bid to increase revenues, one of Ivester's most recent moves was to hike the price of Coke's...