The chairman and CEO of the world’s largest bottler of Coca-Cola products, Coca-Cola Enterprises, has received a significant pay increase, according to CCE’s proxy statement.
Lowry Kline saw his pay package shoot up to US$2.57m, compared with US$811,690 in 2001, a rise of 216%. A total US$1.55m was in bonuses. Kline received no bonus in 2001.
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Meanwhile his salary reached US$925,000, a 16% increase. According to the statement the remainder of his pay – US$88,648 – was in the form of “other compensation,” chiefly for the personal use of company aircraft.
Other CCE executives did not fair badly either. President and chief operating officer John Alm took home US$2.45m, up 144%. All CCE’s five top-paid officers received stock options too, although fewer than in 2001.
