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Former U.S. Secretary of Labor to Chair Coca-Cola Task Force
Ms. Herman will lead a seven-member, independent Task Force, created as one of the key programmatic elements of the Nov. 16, 2000, settlement. This Task Force is charged with ensuring compliance with the settlement agreement and providing independent oversight of the Company's diversity efforts outlined in the agreement.
"As Secretary of Labor, Alexis Herman demonstrated a thoughtful, effective approach to developing a competitive, productive American workforce, and I am delighted that she has agreed to bring her proven expertise to our Task Force," said Doug Daft, chairman and CEO, The Coca-Cola Company. "Diversity is a fundamental part of our future, and, therefore, Secretary Herman and the Task Force will be a valuable asset to our business going forward."
"Secretary Herman is the ideal candidate for this position," said Cyrus Mehri, co-lead counsel for the plaintiffs. "She brings to the chairperson's role a deep understanding of the issues from every perspective and a proven ability to find new paths to shared success. We look forward to working with Secretary Herman and the Company in a constructive, cooperative effort to create a new era of opportunity for every employee of Coca-Cola."
"The Coca-Cola Company has made a major commitment to diversity in its broadest sense, and its senior management clearly understands that this commitment is central to the Company's future business success," said Secretary Herman. "I am proud to be a part of this historic effort, and I look forward to working together with Doug Daft, the Board of Directors, and the Human Resources organization as we help Coca-Cola build the finest workforce in the industry."
Ms. Herman was appointed the 23rd United States Secretary of Labor by President Clinton in 1997. Before that, she was Assistant to the President and Director of the White House Public Liaison Office for four years.
Apart from Ms. Herman, the Task Force will consist of three members appointed by class counsel and three members appointed by the Company. Each will serve a four-year appointment.
Every year the Task Force will send written reports to the CEO, the Board of Directors, the Court and class counsel. The Chairperson will - in person - report to an appropriate committee of the Board of Directors and the CEO. Annual reports, available to the public on the Company's web site, will include:
* A review and evaluation of the Company's U.S. employment and human resources policies and practices;
* A description of reforms implemented due to the settlement agreement;
* An assessment of the Company's compliance with the settlement agreement.
The Task Force will review and evaluate all Company employment policies and practices each year, as part of its reporting function. It will also monitor the impact and effectiveness of modifications to such policies and practices, suggesting additional changes deemed necessary to achieve the objectives of the settlement agreement.
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