MEDIA ADVISORY

COVERAGE INVITED

 
WHEN & WHERE
Friday, May 13, 2005 at 9 a.m.
Goldman, Sachs & Co., 32 Old Slip, 2nd Floor, New York

WHAT
The Executive Leadership Council and Goldman, Sachs & Co. have joined together for The Executive Leadership Council Business Case Competition.  The 2005 competition examines black economic empowerment and The Coca-cola Company in South Africa.  MBA students from 35 schools across the nation were asked to address this topic and present an innovative strategy to help The Coca-Cola Company facilitate the South Africa government’s goals to facilitate economic empowerment among individuals previously disadvantaged by apartheid.

Individual African-American students or teams of up to five, the majority of whom must be African-American, from selected MBA schools nationwide, were invited to compete.  Three finalist teams from: Team #1 University of North Carolina Kenan-Flagler Business School, Team #2 University of Michigan Ross School of Business and Team #3 University of Pennsylvania Wharton School of Business have been invited to present their analyses before senior executives from The Coca-Cola Company in Africa and the USA, a panel of distinguished judges, and a corporate audience at Goldman Sachs.   At the end of the competition, winners will be announced and awarded first, second and third place awards of $20,000, $10,000 and $5,000, respectively.

“The Coca-Cola Company has been in Africa since 1928 and are very proud of our business on the Africa Continent. It is fitting that this competition is focused on our largest market (South Africa) and our very first market where we started doing business. To us Black Economic Empowerment is not a matter of social policies, but an integral part of our business processes to ensure our future success in where we live and work. We look forward to hearing some of the creative strategies that I am sure will help us as we move forward,” said Lawrence Drake II, President Nigeria Division, Coca-Cola Africa (CCSEA).

For the fourth year, The Executive Leadership Foundation has funded this initiative with sponsorship from Goldman Sachs, continuing to support the next generation of African-American corporate executives. 

Founded in 1986, The Executive Leadership Council is the nation’s premier leadership organization of the most senior African-American corporate executives in Fortune 500 companies.  Working from the classroom to the corporate boardroom, its mission is to develop the pipeline of African-American senior corporate leaders.  For more information about The Executive Leadership Council visit www.elcinfo.com.

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

WHO
Lawrence Drake II, President Nigeria Division, Coca-Cola Africa (CCSEA)
David Lyons, Division President, Coca-Cola Southern and East Africa
Mandla Tisani, South Africa Division Public Affairs & Communication Director
Gerald Adolph, Senior Partner, Booz, Allen & Hamilton, Inc., Chair The Executive Leadership Council Board   
Carl Brooks, President, The Executive Leadership Council
Robert Kaplan, Goldman Sachs, Vice Chairman         
Sergio Sotolongo, Goldman Sachs, Managing Director