The soft-drink promised to put $30 million into black-owned businesses and place an African-American on its board of directors.
Rev. Jesse Jackson, head of People United to Save Humanity (PUSH), based in Chicago, and Coca-Cola’s president, Donald Keough, announced the agreement at a press conference.
Jackson initiated the boycott a month earlier, after a stalemate in negotiations that had been aimed at increasing Coke’s support of black business.
Under the compromise, African-American involvement was to be increased in 8 areas of Coca-Cola’s business system. Coke agreed to appoint 32 black-owned distributorships within the year.
Coca-Cola’s advertising in black-owned newspapers and magazines agreed to be doubled, to $2 million.
The company also set a goal of eventually filling 12.5% of its management force with African-Americans and 100 of its blue-collar openings with African-Americans within the year.