Coke Says Pay Plan Has ‘Flexibility’ After Drawing Criticism

Coca-Cola Co., facing criticism of its stock-compensation program from investor Warren Buffett, said the plan offers “maximum flexibility” for future adjustments, though no changes are currently in the works.

While Buffett abstained from voting against the pay proposal at Coca-Cola’s shareholder meeting last week, he began criticizing the plan after it passed. Buffett said at the time that his loyalty to the company kept him from voting against the measure. The Wall Street Journal reported yesterday that pressure from Buffett would probably prod Coca-Cola to revise the pay plan before it goes into effect next year.