Coke CEO compensation rose 23 percent last year
Reuters
Published Mar 12, 2015 11:49AM ET
Coke CEO compensation rose 23 percent last year
By Anjali Athavaley
(Reuters) - Coca-Cola Co (N:KO) said its chief executive earned $25.2 million in total compensation in 2014, about 23 percent higher than the previous year, while declining a bonus as the company implements a new cost-cutting plan and tries to boost growth.
The company said in October it had adopted new guidelines limiting its executive pay plan for this year, after its outsized employee share rewards were criticized by investors including Warren Buffett.
Chief Executive Muhtar Kent's total compensation included salary, stock awards and changes in pension value. Excluding a $7.1 million change in pension value, his compensation was $18.1 million, down slightly from $18.2 million last year.
Coke also said that below-target annual incentives were awarded to its executives in 2014 and a significant amount of previously granted long-term incentive compensation would not be realized because the company did not meet certain targets.
The company is struggling to boost sluggish sales for carbonated soft drinks, which have been declining in developed markets like the United States as people shift to healthier options.
Coke's shares were up 1.6 percent to $40.40 in midday Thursday trading.
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