cce will merge with coke consolidated before the end of this year and ko will ask henry schimburg to come back as ceo. hank and his former lieutenants have been meeting with ko executives and the cce bod have lost confidence in john brock and his broken team! look for a major house cleaning soon. imho
KO lost confidence.........Ha, I lost confidence years ago....the best folks have left already. There are a few good people still there, but not many. You've read the books before...Where is my cheese etc....the smart employees got out while they could.
ousting the guy who made sk and numerous others zillionaires because of the europe situation is and was a joke. alm had a large hand in moving henry on and selling himself to the bod as the new ceo. other than new coke I would say that this was the coke blunder of all time! cmon henry put out the press release. we need your passion and leadership!
KO had the magic elixir to boost CCE stock prices: cold drink infrastructure money. So much of it that CCE started its accounting to bring it right to the bottom line! The SEC nailed that coffin shut earlier this century.
Ohhhh, Henry - he just really knew how to juice things up. the question is - will KO have a new bundle of money to dump on CCE? that's the only way Schimberg comes back. I don't think he does.
It's not a hard job to run a roll-up operation with unlimited financial backing. Well, ok... there are limits to KO's backing - but Henry had nothing to worry about.
Henry coming back now is only a good thing if KO is ready to return to bodacious financial backing. If that is the case, might as well let Brock party on it. Henry has already retired on it!
if ko/cce has to reach this far back in its past then there is much more trouble with cce than they are letting on. and dont tell me some b.s. that ko did this when it reached back and got isdell. first isdell is/was much younger and ko is a much different animal. if this 'has' guy comes back the first thing he will do is take a page out of isdell's book and say he need an amount of time - let's say 1 year - to 'figure' this out. its already a joke that these guy needed 120 days just to tell you how the 'plan' to fix problems that they identified over 120 days prior (remember the conference call at the beginning of '08). now if ko/cce brings this guy back i see it as nothing but a diversion. at this point i am on board with those who say cce need to be purchased by ko(i bet the will fix it if its under thier umbrella or suffer the margin consequences) or cce need to be brokien upp completely. otherwise this is dead money, only holding on becuase of the implied ko garauntee. this will get worse, not better in the short to medium term - count on it!
I keep hearing about KO buying CCE. I could be wrong, but I thought KO was the majority stock holder in CCE.
It was always explained to me, as a company created by KO to bottle it's beverages. By the way, CCE stock actually climbed to $67 per share in "97. At that time, it split three for one.
Yeah but the stock moved up when they made a good size investment into cold drink and when CCE was buying out many of the smaller bottlers.
When he was the leader though Coke had the best customer service and had the best delivery system (hardly did you ever see any out of stocks). I left shortly after Henry and it appears service now sucks and delivery set up is centrally done in a call center. All to reduce cost at the expense of the customer service and sales.
I liked the Schimberg times to. But does any one think that cce will rehire an individual that was asked to leave the company by S.K.Johnston back during the europe crisis. The recall of about 20 million cases due to an fungus or something. Henry got blamed for acting to slow on that. He was probably just a fall guy but that is the way I remember it. But I still liked his style.
I know that does seem old, but the 40, 50 and 60-something year old hot shots haven't been able to get results. Coke liked Henry and that could just be all it takes to get him back in place. Remember as an 'old-timer' he had those values that management since then doesn't put much value in, you know, little things like, taking care of the employees, sharing the wealth and success of the company with the people, good benefits and pay, the kinds of things that make people go in every day and work together until exhausted. Those were the days when people mattered(and the stock price was in the $30s and split 3 for 1!
All I want to know is will this make my
"Always Our Chief
Henry A. Schimberg
November 16, 1999
Thanks for a Great Ride"
Coke bottle more valuable?
It's already worth more than a share of stock.