Word: offing
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Dates: during 1990-1999
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That should have set off warning bells in Atlanta. But Ivester, known for his bulldog tenacity, pushed ahead with expansion plans. Coke had built its omnipresence in the 1980s by welding together a motley collection of soft-drink bottlers into the most powerful distribution channel on earth. Ivester felt compelled...
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...