Coca-Cola has had problems at the top ever since Mr Goizueta died suddenly in 1997.
ECONOMIST: Coca-Cola has turned to its past to find a new boss
And Mr Ivester is not as charming a politician as his predecessor, Roberto Goizueta.
The publication quoted a study of 1, 200 executives by academics at the Goizueta Business School in Atlanta.
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Chairman Roberto Goizueta, a smoker, died weeks after being diagnosed with lung cancer.
Sales rose at an average of 10.7% a year during Goizueta's heyday, enough to give investors a 29% annual return (including dividends).
Ever since the death of Chief Executive Roberto Goizueta in 1997, no one seems able to put fizz back into the 115-year-old company.
Coke stock has slid sideways in the hands of Goizueta's hapless successors--first, Douglas Ivester, who lasted all of 26 months, now Douglas Daft.
Ever since the death of Roberto Goizueta, the CEO, in 1997, no one seems able to put fizz back into the 115-year-old company.
During the Goizueta era, Coke spun off its bottling operations into Coca-Cola Enterprises, its 40%-owned subsidiary, shrinking the parent's assets and improving return on investment.
Coca-Cola's sizzle fizzled after chairman Roberto Goizueta died in October 1997.
Daft, an Australian who ran Asian operations in the Goizueta era, brought back Brian Dyson, one of the architects of the disastrous introduction of New Coke.
The boards of such firms should ask themselves whether their bosses are stars like Mr Goizueta, or tyrants like Armand Hammer, who ruled Occidental Petroleum as his fief into his 90s.
"It's a little frightening to think that a 17- or 18-year-old should be committed to a career path and somehow forgo that two-year exploration, " Andrea Hershatter, director of the undergraduate program at Emory University's Goizueta Business School, told Business Week.
Which is why a firm with a good boss does everything in its power to hang on to him and why some of the most successful chief executives, such as the late Roberto Goizueta of Coca-Cola, spent years in the job.
D. from Northwestern University, Robertson was a professor and head of the marketing department at Wharton from 1971 to 1994 before developing international programs at Emory University (where he was also dean of its Goizueta Business School) and at the London Business School.
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