Ernest Woodruff
Ernest Woodruff | |
|---|---|
| Born | Template:Birth date Columbus, Georgia, U.S. |
| Died | June 5, 1944 (aged 81) |
| Occupation(s) | Entrepreneur, Businessman |
| Known for | Purchase of The Coca-Cola Company, founding Atlanta and Edgewood Street Railroad |
Ernest Woodruff (May 23, 1863 – June 5, 1944) was a prominent entrepreneur based in Atlanta, Georgia.
Early life and marriage
Originally from Columbus, Georgia, Woodruff relocated to Atlanta and established his residence in the Inman Park neighborhood, which had been developed by his brother-in-law, Joel Hurt. On April 22, 1885, he wed Emily Caroline Winship, the daughter of industrialist Robert Winship, known for his foundry business.
Career
Together with Joel Hurt, Woodruff founded the Atlanta and Edgewood Street Railroad, initiating electric trolley service in 1889. In 1904, he took over as president of the Trust Company from Hurt, a position he held for eighteen years before advancing to chairman.
Woodruff focused on corporate consolidation strategies aimed at increasing value through expansion. In 1903, he combined three smaller ice and coal enterprises into the Atlanta Ice and Coal Company, which later became known as Americold. By 1910, utilizing the resources of the Trust Company, he unified ice and coal businesses throughout Virginia and the Carolinas under the umbrella of Atlantic Ice and Coal, enhancing profitability by streamlining operations.
He also restructured the financially troubled Atlantic Steel plant (currently Atlantic Station) by appointing Thomas Glenn to manage its debts. This restructuring paved the way for Woodruff’s significant purchase of The Coca-Cola Company in 1919, an agreement made with its founder Asa Griggs Candler. Subsequently, Woodruff’s sons, Robert W. Woodruff and George W. Woodruff, assumed leadership roles at Coca-Cola, guiding the company for many years and eventually eclipsing the influence of the Candler family.