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• Donald R. Keough, who served as president/COO of the Coca-Cola Co. from 1981-1993, becoming best known for the decision to abandon Coke's traditional formula for what was dubbed "New Coke," and then bring it back just 10 weeks later as "Coke Classic" after a unexpected consumer backlash, has passed away. He was 88.

Famously, Keough once responded to accusations that Coke had deliberately engineered the whole controversy for publicity by saying, "We're not that dumb. And we're not that smart."
KC's View:
Two interesting things that I did not know about Keough...

Michael Sansolo tells me that Keough's book, "The 10 Commandments for Business Failure," is one of the best business books he's ever read.

And early in his career, he hosted a local TV show in Omaha called "The Coffee Counter." It was followed on the schedule by a show hosted by a fellow who ended up having a fairly lengthy career in television - Johnny Carson. Keough eventually decided to get out of the TV business and went to work for the coffee company that sponsored the show, which was eventually acquired by Coca-Cola.