Motley Fool to Name Coke Official With Marketing Expertise as CEO

After a 10-month search, the Motley Fool will announce today that C. Patrick Garner, an executive with Coca-Cola, will assume the position of chief executive.

Garner, a 30-year veteran at the soft drink giant, has extensive experience in marketing Coca-Cola’s brands, which parallels Motley Fool’s major goal of expanding its name recognition worldwide. Garner was most recently president of the Southeast and West Asia division for Coke.

“Pat knows what it takes to keep a brand fresh, relevant and scaled for the future,” said Motley Fool board member Len Leader, president of America Online Investments. AOL is a partner with and investor in Motley Fool and hosts a Fool area. The Fool also has its own Web site, a book publishing arm, radio shows and other business areas.

The founders of the Motley Fool, brothers David and Tom Gardner, said that they would still be co-chairmen and continue most of their activities “while continuing to scour the planet for Fools who can help us build one of the world’s great, built-to-last companies.”

The Gardners said the Motley Fool has no immediate plans to go public, as have other financial Web sites such as TheStreet.com and MarketWatch.com. So far, the Motley Fool has been able to grow without the cash from a public offering. Garner and David Gardner said an IPO would be considered if it made financial sense. “It’s not an end, it’s a means,” Gardner said.