Investor urges against Coke's management pay

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Associated Press

Posted on March 25, 2014 at 11:01 AM

NEW YORK (AP) — An investment fund is taking issue with Coca-Cola's pay plan for management, saying it's particularly excessive in light of the beverage maker's slowing growth.

In a letter to Coca-Cola board members, Wintergreen Advisers CEO Dave Winters noted that Coca-Cola's equity plan for 2014 would transfer roughly $13 billion in shares at the current stock price to management over the next four years according to his calculations.

He sent a similar letter to Warren Buffett, urging the longtime Coca-Cola shareholder to vote against the plan in April.

Coca-Cola Co. says the comments by Winters were "misinformed."

The Atlanta-based company noted in the plan is consistent with its past practices and that management would have to meet certain performance metrics to earn the full amount.

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