Word: goizueta
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...eminent general in the cola wars, Coca-Cola CEO Roberto C. Goizueta was the ultimate brand loyalist. His devotion to Coke made him wealthy and enriched his shareholders, as well as the city of Atlanta. But his loyalty to a somewhat obscure brand, True cigarettes, made him more susceptible to the lung cancer that killed him last week at age 65, ending Goizueta's remarkable stewardship of the world's biggest brand. Goizueta's illness was diagnosed in September, and the company expressed optimism about his return as he continued to work from his hospital room. But following chemotherapy...
...Goizueta's anonymity ended after he became a protege of another Coke legend, former CEO Robert W. Woodruff, who became increasingly impressed by the intensity and integrity of the man from Havana. With Woodruff's influence, Goizueta was tapped in 1981 to run the Atlanta-based company. At the time Coke was an omnipresent but floundering symbol of American business and culture. Subsequently, Goizueta became one of the most highly regarded of all CEOs, having turned one of the world's most nonessential consumer products into a money spinner with annual sales of $18.5 billion. "No one loved the Coca...
...comes news from Europe, and it's even worse. Russia's gone red. Again. Coca-Cola CEO Roberto Goizueta told TIME that Coke has overtaken Pepsi in Russia, a market of huge size (150 million people) and scope, erasing the 10-year head start Pepsi enjoyed as the Official Party Cola. Coke opens its 12th plant there this week, staffed by locals trained in Coke's bottling university in Moscow. It's all part of Coke's relentless push across the continents. "The conclusion is obvious," says Goizueta with his typical detachment. "Our system has terrific momentum...
...doubling its investment in Russia to $500 million next year. In China it has plunked down another $500 million. This year the company will invest some $1.5 billion worldwide. "You cannot jump-start things in this business. You have to build that infrastructure one step at time," says Goizueta...
...folks in Atlanta are trying to keep their recent successes in perspective. Says Goizueta: "There's a feeling of euphoria in certain groups. It's not the time to become euphoric. All we have done is to raise the bar." Goizueta also knows that PepsiCo CEO Enrico is famous for parachuting into the company's troubled businesses and turning them around in short order. Earlier this decade he made Frito-Lay a killer. And last year he created a new recipe for the struggling restaurant chains. He is best known, however, for revitalizing Pepsi's soft-drink business...