 "Selling happiness: Why Warren Buffett will never sell Coke shares")
Berkshire Hathaway CEO Warren Buffett, who had been on Coca-Cola’s board for 17 years (his son Howard Buffett has been a director since 2010) and is the largest shareholder, was a surprise guest at Coca Cola’s annual shareholders’ meeting.
At the meeting, Buffett had a question and answer session with Coke’s Chairman and CEO Muhtar Kent grilling him.
Buffett spoke about the brands of the company and his views on them.
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“We’ve never sold a share of Coca-Cola stock, and I wouldn’t think of selling a share, he said, adding, “I like wonderful brands if you take care of them.”
The marketing team at Coke must have been beaming when Buffett said, “No business ever failed with happy customers. You are selling happiness.” Coke’s communication over the past few years has focused on the taglines ‘Open happiness’ and ‘Share happiness.’
Buffett referred obliquely to the competitive environment when he said, “The biggest thing that kills them (enterprises) is complacency. You always want to be on the move. When you’ve got a great business like Coca-Cola, the danger would always be that you would rest on your laurels. I see none of that at Coca-Cola. Tomorrow is more exciting than today.”
Anant Rangaswami was, until recently, the editor of Campaign India magazine, of which Anant was also the founding editor. Campaign India is now arguably India's most respected publication in the advertising and media space. Anant has over 20 years experience in media and advertising. He began in Madras, for STAR TV, moving on as Regional Manager, South for Sony’s SET and finally as Chief Manager at BCCL’s Times Television and Times FM. He then moved to advertising, rising to the post of Associate Vice President at TBWA India. Anant then made the leap into journalism, taking over as editor of what is now Campaign India's competitive publication, Impact. Anant teaches regularly and is a prolific blogger and author of Watching from the sidelines.