April 13, 2006 |
FROM an early age, we've been programmed to mix drinks. Give a kid access to a soda fountain and see the root beer/orange/Fresca concoction you get. Only rarely does our creativity succeed: Take golf legend Arnold Palmer, who one day will be known only for the iced tea and lemonade mixture bearing his name. In 2004, Coca-Cola introduced C2, an attempt to blend Coke Classic with Diet Coke.
April 6, 2006 |
Coca-Cola Co. announced an overhaul of its compensation system for directors Wednesday, saying they will get paid only if the company meets its financial goals. Directors will be given share grants each year equal to $175,000. The grants will be payable in cash in three years provided the company increases earnings per share by 8% each year, Atlanta-based Coca-Cola said. Board members previously received an annual fee of $125,000, of which $50,000 was in cash and $75,000 in stock units.
February 15, 2006 |
Coca-Cola Co. said billionaire investor Warren Buffett, the soft-drink maker's largest shareholder, would leave the board after 17 years. Buffett wants to spend more time managing holding company Berkshire Hathaway Inc., Atlanta-based Coca-Cola said Tuesday. Berkshire holds an 8.4% stake, worth about $8 billion, and will continue as a shareholder. Buffett joined the board in 1989, and his term expires April 19.
February 15, 2006 |
Coca-Cola Co. was sued in federal court in Springfield, Mo., by 50 independent bottlers who say plans to change how Powerade sports drinks are delivered to retailers violate their agreements with the world's largest soft-drink maker. Wal-Mart Stores Inc. asked Coca-Cola and bottlers last year to deliver Powerade to its warehouses instead of to individual stores so the retailer could give the drink more shelf space and increase sales.
February 8, 2006 |
Coca-Cola Co. said Tuesday that fourth-quarter profit fell 28% after it increased marketing to halt a decline in U.S. soda sales. Soda sales in the U.S. rose for the first time in almost a year after Coca-Cola boosted spending 12% to $2.29 billion. Net income dropped to $864 million, or 36 cents a share, on expenses to return overseas profit to the U.S. Excluding those costs, Coca-Cola earned 46 cents a share, exceeding analysts' average estimate by a penny.
January 18, 2006 |
Coca-Cola Co. named company veteran Muhtar Kent president of international operations, a new position, as the world's largest beverage maker continued to centralize its leadership. Coke's chief executive, Neville Isdell, said it was premature to consider whether Kent, who would be responsible for all of the Atlanta-based company's operations outside of North America, could one day be his replacement.
December 31, 2005 |
Coca-Cola Co. on Friday said it was banned from another college campus this month when the University of Michigan halted purchases of the company's products because of concerns about the soft drink maker's labor practices in Colombia and environmental actions in India. The move by the school, which has more than 40,000 students, follows a similar ban this month by New York University, which has more than 50,000 students. The two are among Coke's largest university accounts.
December 8, 2005 |
Coca-Cola Co. backed its long-term earnings growth target and unveiled a marketing slogan that welcomes consumers to "The Coke Side of Life." Atlanta-based Coca-Cola, which has struggled for five years to boost sluggish soft drink sales and meet changing consumer tastes, said it still expected long-term growth in earnings per share in the high-single-digit range, as well as growth in operating earnings of 6% to 8%.
April 23, 2005 |
Groupe Danone said Coca-Cola Co. would take full control of a joint venture that distributes Evian, Sparkletts and Dannon bottled water in North America. Under a revised agreement, Coke would buy out the French food company's 49% interest in the venture. The price of the transaction was not disclosed.
April 20, 2005 |
Pfizer Inc., the world's largest drug maker, said Tuesday that first-quarter earnings dropped 87% because of a tax charge to return overseas profit to the U.S. and costs to suspend sales of the painkiller Bextra. Net income fell to $301 million, or 4 cents a share, from $2.33 billion, or 30 cents, a year earlier, the New York-based company said. Revenue rose 5% to $13.1 billion, beating the $12.5-billion average estimate of analysts.