©
Macmillan Publishers Ltd 2006
Taken from the Magazine section in
www.onestopenglish.com
of changes in the management of the company. In May 2004 the Irishman
Neville Isdell became chief executive.
Mr Isdell was open about Coca-Cola's mistakes. He said there were no easy
answers. He said that Coca-Cola had missed consumer trends and that its
advertising was not effective. He promised an extra $400m for marketing and
promised to sell more in growing markets such as China and India. The
company is now spending more money on developing new products.
Now it seems that Mr Isdell is making some progress. Coca-Cola’s profits
have increased over the past year. In the third quarter of last year profits
increased by 37% to $1.28bn, with very good sales in developing markets
such as China, Russia and Latin America.
In the meantime PepsiCo is continuing to do well. It is concentrating on
healthier products including Tropicana fruit bars and a carbonated version of
Tropicana fruit juices.
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