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Coca-Cola CEO Forgoes $2.5 Million Bonus as Profit Lags Target

Coca-Cola Co. Chief Executive Officer Muhtar Kent declined to accept a $2.5 million bonus after the world’s largest beverage maker missed its profit target last year.

Kent was eligible for the pay but didn’t take it “in light of the difficult but necessary decisions required as the company implements strategic actions to accelerate growth,” Atlanta-based Coca-Cola said in a filing Thursday. “We remain confident that the strategic actions management is taking are laying the groundwork for sustainable growth in the years ahead.”