The chairman and CEO of Coca-Cola Enterprises both declined to accept their bonuses in 2004, according to a report in the Atlanta Journal-Constitution.

The report said the decision was made as the soft drinks bottler struggled with a disappointing performance last year.

John Alm, president and CEO, earned US$1.02m but turned down a bonus of around US$749,000. Lowry Kline, chairman, was paid US$959,401 but declined a bonus of close to US$670,000.

The report said that although both executives also received stock, the value was less than in 2003.

Alm was handed restricted stock valued at US$1.64m, plus 245,000 options. Kline received US$1.43m in restricted shares and 200,000 stock options.