A return to health for Kellogg : But it was musical chairs at Coca‐Cola

Purpose – To study the reasons why iconic companies suffer failure. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the findings in context. Findings – Betsy Morris chronicles the downward slide of Coca‐Cola's performance since the death, in 1997, of its charismatic CEO Roberto Goizueta. Jill Andresky Fraser focuses on the fortunes of Kellogg which, in 1999, lost its no. 1 spot as market leader. Louise Lee reports on the troubles of another iconic brand, Levi Strauss, where the current financial situation allows little margin for mistakes. Practical implications – Provides an insight into how things can go wrong in the best‐known of companies, and a glimpse of how different methods are adopted to attempt a turnaround.