Word: goizueta
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Dates: during 1990-1999
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...missionary zeal to spread Coca-Cola around the world. An accountant by training, with an eight-day-a-week work ethic, Ivester predicted a decade ago that he would be chairman and CEO of Coke by Nov. 1, 1998. He beat that brash forecast by a year when Roberto Goizueta, his charismatic mentor and predecessor, died suddenly of lung cancer in October...
...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 had been making in overseas ventures into instant losers...
...conscious bottling affiliates. In the past, Coke has offset such cost increases by funneling hundreds of millions of dollars in financial assistance to its key bottlers. But bottlers expressed outrage at last month's move, which they feel indicates Atlanta's willingness to transfer to them the burden of Goizueta's and Ivester's growth plans...
...Roberto Goizueta, the late longtime CEO of Coca-Cola, proved that there is no such thing as a mature business. His critical insight was an ability to define exactly what business Coke was in--a task that is far harder than you think. For instance, he taught his executives that when they set goals for market share, they needed to focus on the share of stomach, not the share of carbonated beverages. His adversary was water, not soda. By this definition, Coke's 40%-plus market share became 3%, changing the company's view of growth. He then redefined...
That momentum is likely to continue under Goizueta's probable successor, M. Douglas Ivester, 50, the company president, who is expected to be named CEO this week. It is a notable achievement that Goizueta built a management team that can absorb his loss. "They really have a depth of management," says Jennifer Solomon, an analyst at Salomon Brothers. "I would be much more concerned if this issue arose at some other companies." Ivester has virtually run Coke's operations since being appointed president three years ago, which allowed the cerebral Goizueta to manage the big picture...