13-03-2015, 10:03 AM
Coca-Cola CEO Forgoes $2.5 Million Bonus as Profit Lags Target
(Mar 13): Coca-Cola Co. Chief Executive Officer Muhtar Kent declined to accept a $2.5 million bonus after the world’s largest beverage maker missed its profit target last year.
Kent was eligible for the pay but didn’t take it “in light of the difficult but necessary decisions required as the company implements strategic actions to accelerate growth,” Atlanta- based Coca-Cola said in a filing Thursday. “We remain confident that the strategic actions management is taking are laying the groundwork for sustainable growth in the years ahead.”
Coca-Cola has been grappling with sluggish international growth and mounting concerns in the U.S. that sugary beverages contribute to obesity. The company also has been defending itself against allegations by shareholder Wintergreen Advisers LLC that its employee compensation plan is excessive. The company reduced the potential payouts after Warren Buffett, its largest investor, also spoke out.
Coca-Cola’s earnings per share rose about 5 percent last year, excluding the effects of currency fluctuations. While that was short of the company’s long-term goal for growth at a high single-digit percentage rate, it was enough to qualify Kent for a bonus.
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http://www.theedgemarkets.com/sg/node/189321
(Mar 13): Coca-Cola Co. Chief Executive Officer Muhtar Kent declined to accept a $2.5 million bonus after the world’s largest beverage maker missed its profit target last year.
Kent was eligible for the pay but didn’t take it “in light of the difficult but necessary decisions required as the company implements strategic actions to accelerate growth,” Atlanta- based Coca-Cola said in a filing Thursday. “We remain confident that the strategic actions management is taking are laying the groundwork for sustainable growth in the years ahead.”
Coca-Cola has been grappling with sluggish international growth and mounting concerns in the U.S. that sugary beverages contribute to obesity. The company also has been defending itself against allegations by shareholder Wintergreen Advisers LLC that its employee compensation plan is excessive. The company reduced the potential payouts after Warren Buffett, its largest investor, also spoke out.
Coca-Cola’s earnings per share rose about 5 percent last year, excluding the effects of currency fluctuations. While that was short of the company’s long-term goal for growth at a high single-digit percentage rate, it was enough to qualify Kent for a bonus.
...
http://www.theedgemarkets.com/sg/node/189321