The World: Atlanta - Coca-Cola ups its ad spend for short-term growth

Coca-Cola is to plough an additional $400 million into its global adspend in a bid to revitalise its performance. The investment plan, which was presented to analysts last week by the Coca-Cola chairman and chief executive, Neville Isdell (pictured), will help the company pursue a "change in creative direction". Coca-Cola's roster agencies will be briefed to revive the brand with advertising that has a more youthful point of reference.

As part of the strategy, the company has slashed its long-term volume and earning targets and opted instead for short-term growth.