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78
met. Together the two changed the company' operations and capital structure to
maximize shareholder value.
Both of Ivester's parents were factory workers from a small mill town in
Georgia. His parents were children of the depression, he recalls, “strong savers,
very strong religious values,” and had very high expectations for their only son.
If he got an A, his father would say, “They give A pluses, don't they?”
Doug Ivester is the man who for nearly two years worked constantly to
provide essential support to Roberto Goizueta as he not only turned Coca-Cola
around but made it into a powerhouse. If you want to know just how driven
Ivester is, know that more than a decade ago he set himself the goal of becoming
the CEO and chairman of Coca-Cola. Then he put on paper the dates by which
he intended to do that.
By comparison with Goizueta, Ivester is an accountant by training, an
introvert by nature. He worked systematically to obtain the breadth needed to be
a modern chief executive — getting media education and spending three years'
worth of Saturdays, six hours at a time, being tutored in marketing. He is a
straight rocket, constantly encouraging his executives to “do the right thing”, yet
he is fascinated with Las Vegas, which he visits once a year, gambling and
people-watching a lot.
He is big on discipline, which to him means: be where you're supposed to
be. Return phone calls punctually (employees know never to get too far away
from their office voice-mail, even on weekends). Still, when directing his troops,
he asks them to set “aspirations” (difficult targets).
Hierarchy is out - it slows everything down: he communicates freely with
people at all levels. The “conventional” desk job is also out. Ivester prefers that
employees think of themselves as knowledge workers — their office is the
information they carry around with them, supported by technology that allows
them to work anywhere. This really matters when your business is as large as
Coke's, which gets 80% of its profit from overseas.
At Coke, business planning is no longer a yearly ceremony but a continual
discussion - sometimes using voice-mail - among top executives. Technology is
not just nice; it's crucial. Huge volumes of information don't frighten Ivester; he
insists that they are necessary for “real-time” decision-making. With past-
generation executives, their style was more “don't bring me your problems,
bring me your solutions,” says Tim Haas, Senior Vice President and Head of
Latin America. “Doug thrives on finding the solutions.” “In a world this
complicated and fast-moving, a CEO can't afford to sit in the executive suite and
guess,” Ivester says. He believes that many of America's executives “are getting
terribly isolated.”
PDF created with FinePrint pdfFactory Pro trial version www.pdffactory.com
met. Together the two changed the company' operations and capital structure to
maximize shareholder value.
Both of Ivester's parents were factory workers from a small mill town in
Georgia. His parents were children of the depression, he recalls, “strong savers,
very strong religious values,” and had very high expectations for their only son.
If he got an A, his father would say, “They give A pluses, don't they?”
Doug Ivester is the man who for nearly two years worked constantly to
provide essential support to Roberto Goizueta as he not only turned Coca-Cola
around but made it into a powerhouse. If you want to know just how driven
Ivester is, know that more than a decade ago he set himself the goal of becoming
the CEO and chairman of Coca-Cola. Then he put on paper the dates by which
he intended to do that.
By comparison with Goizueta, Ivester is an accountant by training, an
introvert by nature. He worked systematically to obtain the breadth needed to be
a modern chief executive — getting media education and spending three years'
worth of Saturdays, six hours at a time, being tutored in marketing. He is a
straight rocket, constantly encouraging his executives to “do the right thing”, yet
he is fascinated with Las Vegas, which he visits once a year, gambling and
people-watching a lot.
He is big on discipline, which to him means: be where you're supposed to
be. Return phone calls punctually (employees know never to get too far away
from their office voice-mail, even on weekends). Still, when directing his troops,
he asks them to set “aspirations” (difficult targets).
Hierarchy is out - it slows everything down: he communicates freely with
people at all levels. The “conventional” desk job is also out. Ivester prefers that
employees think of themselves as knowledge workers — their office is the
information they carry around with them, supported by technology that allows
them to work anywhere. This really matters when your business is as large as
Coke's, which gets 80% of its profit from overseas.
At Coke, business planning is no longer a yearly ceremony but a continual
discussion - sometimes using voice-mail - among top executives. Technology is
not just nice; it's crucial. Huge volumes of information don't frighten Ivester; he
insists that they are necessary for “real-time” decision-making. With past-
generation executives, their style was more “don't bring me your problems,
bring me your solutions,” says Tim Haas, Senior Vice President and Head of
Latin America. “Doug thrives on finding the solutions.” “In a world this
complicated and fast-moving, a CEO can't afford to sit in the executive suite and
guess,” Ivester says. He believes that many of America's executives “are getting
terribly isolated.”
78
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