Coca-Cola Cuts CEO Kent's Pay After Revamping Equity Program
- Beverage maker's compensation awards had drawn investor ire
- Company says incentives focus on sales and profit growth
Muhtar Kent.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Coca-Cola Co. slashed pay for Chief Executive Officer Muhtar Kent by 42 percent last year, following through on changes to a compensation plan that had drawn investors’ ire.
Kent’s reported pay for 2015 fell to $14.6 million from $25.2 million in the previous year, according to a proxy filing on Wednesday. The Atlanta-based company vowed in late 2014 to scale back its equity-based compensation, including stock options, to allay investors’ concerns that the their stakes were being diluted.