May 21, 2012 / Fortune Asia / Volume 165 / Number 7 / FORTUNE 500

48 THE NEW COKE
In four years as CEO of the Coca-Cola Co., Muhtar Kent has cranked up profits
and trumped Pepsi. Now he's shaking up Coke's culture and remaking the company
in his own image.
BY PATRICIA SELLERS

54 HOW HP LOST ITS WAY
Lo Apotheker's disastrous tenure at Hewlett-Packard follows a decade of
missteps and scandal. Can his replacement, Meg Whitman, bring direction to the
tech giant?
BY JAMES BANDLER WITH DORIS BURKE

68 THE FUN KING
An inside look at Disney chief Bob Iger's stewardship of some of the most valuable
names on the planet (not just Mickey and Minnie but also ESPN, ABC, Marvel, and
Pixar).
BY JENNIFER REINGOLD

76 THE DIRECTORS
These six boards steer some of America's most high-profile organizations.
PHOTOGRAPHS BY FLOTO+WARNER PRODUCED BY ALIX COLOW,
WITH REPORTING BY COLLEEN LEAHEY

89 FEDEX CHIEF FRED SMITH ON... EVERYTHING
China, the U.S. economy, the value of a good name, and why the government shouldn't
pay for a liberal arts education.
INTERVIEW BY BRIAN DUMAINE

F--1 The 500 Largest U.S. Corporations | F--27 Arrivals and Departures | F--28
Notes | F--29 Performance | F--33 Within Industries | F--41 Index

10 FIRST
By the Numbers
Lockheed's Space Operations Simulation Center.
BY RYAN BRADLEY

12 FIRST
Closer Look
An investment fund that solves the problem of owning too much startup stock.
BY JESSI HEMPEL

14 FIRST
The Briefing
Big business loves photo sharing, Canada kills the penny (should we?), and more.

16 FIRST
The Best Advice I Ever Got
DuPont's Ellen Kullman: Water, and it will grow.
INTERVIEW BY ELLEN FLORIAN

17 FIRST
Road Warrior
Arne Sorenson of Marriott.
BY SCOTT GUMMER

18 FIRST
Game Changers
Meet the "HBS of China."
BY ANDY SERWER

20 FIRST
Executive Dream Team
Team players trump All-Stars.
BY GEOFF COLVIN

25 FIRST
Brainstorm
Building a better world: highlights of Fortune's fifth annual Brainstorm Green
conference.

26 CAREER
The Way We Work
Want to move up? Get a sponsor.
BY JENNIFER ALSEVER

28 CAREER
Coaching
Former Campbell Soup CEO Doug Conant on how introverts can be leaders.
INTERVIEW BY CAITLIN KEATING

30 TECH
Tech Star
Airbnb: More than a place to crash? The CEO thinks the web startup can be an eBay
for the social age.
BY JESSI HEMPEL

34 TECH
Tech@Work
True Office aims to turn compliance testing into a videogame-like experience.
BY ALEX KONRAD

35 INVEST
Wall Street Interview
"Perma bull" James Paulsen on why investors shouldn't panic.
BY AMY FELDMAN

38 INVEST
Anatomy of a Trade
Chuck Akre cashes in on MasterCard.
BY RYAN DEROUSSEAU

43 Q&A
Admiral Mike Mullen
After a 43-year military career, the former Joint Chiefs chairman is as outspoken
as ever.
INTERVIEW BY GEOFF COLVIN

6 Editor's Desk

144 Bing!

OPINION

39 Allan Sloan
Looking for a corporate feel-good story? Say hello to United Technologies.

40 Geoff Colvin
If Obamacare survives, employers may do it in.

41 Erin Burnett
The problem with the Arab world's love affair with English.

ON THE COVER Illustration by Carl DeTorres

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