News

US: Shareholders want to OK Coke severance deals

Most popular

Pernod is back in Kentucky, but why did it leave?

The opportunity for no-alcohol in the on-premise

How should adult soft drinks be sold to consumers?

Which drinks companies will be hit by cool weather

Anheuser-Busch InBev Performance Trends 2014-2018

MORE

The Coca-Cola Company is under pressure to seek approval from its shareholders before it awards executives severance packages. The move comes after large payoffs for executives who have failed to live up to some shareholder expectations.

The International Brotherhood of Teamsters General Fund, which owns 100 Coca-Cola Co shares, has asked that the company's shareholders get the right to approve severance packages that exceed 2.99 times the sum of the executive's base salary plus bonus.

The request was made as part of a shareholder proposal. It will be voted on at Coke's AGM in April.

The International Brotherhood says Coke's board has rewarded executives who have not performed to their expectations. It cites the large recent payoffs for former CEO Doug Daft and COO Steven Heyer.

Coke is asking shareholders to reject the proposal, saying it would not be in the company's best interest.


Sectors: Soft drinks

Related Content

Who won in results season, how to read the warning signs and will UK beer ever stop consolidating? - The just-drinks Analyst

Who won in results season, how to read the warning signs and will UK beer ever stop consolidating? -...

M&A Watch - The Time is Right for Refresco Gerber Shareholders to Exit

M&A Watch - The Time is Right for Refresco Gerber Shareholders to Exit...

M&A Watch - The Options Available to Cott Corp

M&A Watch - The Options Available to Cott Corp...

Analysis – S&N takes its fight to Stockholm

Analysis – S&N takes its fight to Stockholm...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?