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Diversification is a relatively new concept for Coke. In the 30 years that rough and ready Robert Woodruff, 73, ran the company, Coca-Cola preened itself as a giant with a single product, a onetime cough elixir dispensed globally in wasp-waisted 6½-oz. bottles. Complacency caught up with the giant a decade ago; other companies made inroads with bigger bottles, and Pepsi even pulled ahead in some areas. Woodruff, whose position as chairman of the finance committee is buttressed by the fact that he owns Coke stock worth $30 million, was finally persuaded that the corporate horizon should be extended. Coke added larger bottles and cans, rapidly took on such sidelines as lemon-lime Sprite, twelve Fanta soft-drink flavors, Minute Maid juices and, this year, low-calorie Tab.
Uphill Run. Besides looking for more companies to marry into Coke now that diversification is the policy, Austin is concentrating on increasing Coke's worldwide lead, searching for more outlets to add to Coke's 1,850 distributors in 122 nations. "We stay scared and we run hard," he says. Racing against that competition, Pepsi clearly is still running uphill, but it has developed a certain wind and toughness for the task. That toughness is apparent in Don Kendall, who opened a new plant every 11½ working days during two years of his tenure as international president, and has no intention of slowing down. Not for him the pause that refreshes.