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Release: April 12, 2002

UI Tippie College of Business honors former Coca-Cola executive Donald R. Keough

The University of Iowa Henry B. Tippie College of Business will honor Donald R. Keough, former president of The Coca-Cola Company and chairman of the board of Allen & Company, as the recipient of the 2001 Oscar C. Schmidt Iowa Business Leadership Award.

The Tippie College of Business will honor Keough on Wednesday, April 24 at a dinner and program at the Main Lounge of the Iowa Memorial Union.

The Iowa Business Leadership Award was established by the late C. Oscar Schmidt, president of the Cincinnati Butchers' Supply Company, who wanted to honor his father by recognizing an outstanding Iowa business executive. His intention was both to honor an outstanding business leader and to provide a vehicle by which the students and faculty of the College could interact with successful career men and women. The award recognizes outstanding performance in the world of commerce in the belief that business leadership is essential to the economic progress of Iowa and the nation.

"We are proud to honor this Iowa native who went on to be the president of a company that has had a major economic impact not only in Iowa, but throughout the nation and the world," said Gary Fethke, dean of the Tippie College of Business.

Donald Keough is chairman of the board of Allen & Company Incorporated, a New York investment banking firm. He was elected to the position in 1993 following his retirement as president, chief operating officer and a director of The Coca-Cola Company. He continues to act as advisor to the Coca-Cola board.

The son of a farmer and cattleman, Keough was born on farm near Le Mars. After serving in the Navy, he graduated from Creighton University. He became a television commentator, and he called the plays for the first televised football game west of Chicago.

His tenure with Coca-Cola dates back to 1950, and he held a variety of key positions prior to being named president of the Company's Foods Division in 1971. Subsequently, he held the office of the president of Coca-Cola USA and was later given the responsibility for the company's business in North and South America.

Keough was elected president, chief operating officer and director of The Coca-Cola Company in 1981. From 1986 to 1993, he served as chairman of the board of Coca-Cola Enterprises, Inc., the world's largest bottling system.

Keough serves on the boards of H. J. Heinz Company, The Washington Post Company, The Home Depot and McDonald's Corporation. He is immediate past chairman of the board of trustees of the University of Notre Dame, and a trustee of several other educational institutions. He also serves on the board of a number of national charitable and civic organizations.

Keough has received various honors in his career, including a Horatio Alger Award in 1988. He holds honorary doctorates from the University of Notre Dame, Creighton University, Emory University, Trinity University, Dublin, and Clarke University. The University of Notre Dame's highest honor, the Laetare Medal, was presented to Keough in May 1993.

Past recipients of the Oscar C. Schmidt Iowa Business Leadership Award, first given in 1980, include: William T. Kerr, chairman and chief executive officer of Meredith Corporation; John Pappajohn, president of Equity Dynamics, Inc.; and Clayton M. (Clay) Jones, president of Rockwell Collins.