The $3.5 million figure represents a $500,000 improvement on Daft’s 2000 bonus but he could be in line to earn considerably more from a performance-based restricted stock award. He will receive $47.9 million in restricted stock if Coca-Cola records annual growth of 16% in earnings per share through to 2005. Daft, 58, will receive half of the award if the company shows EPS growth of 11% and a further $29.1 million in restricted shares if he remains chairman until 2005.
US: Coca-Cola pays Daft bonus of $3.5 million
Soft drinks giant, Coca-Cola has revealed that it paid chairman and chief executive, Douglas Daft, a bonus of $3.5 million last year. Daft's salary was frozen at $1.5 million.