Ceo Of The Coca-cola Company

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As he begins his fifth and last year as the Chairman and CEO of The Coca-Cola Company, Douglas Daft spoke to a packed house in Uris 301 on Monday evening. Brought to campus by the Silfen Leadership Series and the Australian Business Association (Aus-BA), Mr. Daft began his remarks with a quote from Mark Twain in reference to having received the invitation to speak from his son Nick, CBS.

Mr. Daft began the session by acknowledging the AusBA students in attendance and offering that their "genuine curiosity" was their natural connection to a tradition of Australianbusiness leaders that includes Rupert Murdoch of News Corporation6and Charlie Bell of McDonald's.He declared the trait as "essential for any business" and implored all in attendance to lead by balancing an Australian's sense of international adventurousness with a commitment to local community.

"I Am an Import" Mixing in citations'from the writings of Adam Smith', Mr. Daft structured the bulk of his talk around his first hand experience with the power of free trade, calling it "the only way to prosperity and economic growth in the long term. " Mr. Daft ...
... emphasized his belief that "Smith thought there was an important socializing aspect of business as well. "

Mr. Daft noted that 80% of his company's income is derived from outside the US, but that Coke seeks to enter each market with cultural sensitivity in their communications and investment in local talent through employment and education. "We're there for the long haul," he said, tying together themes of local commitment with his characterization of "trust as the oxygen of busi-ness."

Before taking Q & A from the audience, Mr.Daft shared a brand new second spot shot in South Africa that he feels "reflects the brand so well.' The music of the spot and its forthcoming US premiere during American I do converges nicely with Coke's recent offering of downloadable music to its consumers. As Mr. Daft said when asked, "giving our consumers music helps sell Coke...it is core to our consumer."

"We'll Sell 'Em Something Else That We Make"Mr. Daft responded to questions covering the future of Coke's leadership, the role of Warren Buffet on the company's board of directors and the challenge of maintaining brand unity across a global organization with over a million system-wide employees involved. He spoke of having to withdraw product in inhospitable foreign markets in years past but stated that the company's local focus kept the brand healthy worldwide amidst a swell of anti-American sentiment in 2003'".

Mr.Daft dismissed the notion of Coke as a mature company as "rubbish," pointing to signs of rapid growth in China and the weak dollar as early indications that his last year at the helm should end his tenure at Coke on an upswing in performance.