Coca-Cola CEO's pay, bonus drop
Coca-Cola CEO Muhtar Kent's pay fell 16 percent last year because his performance-based bonus took a hit.
Kent's package was worth $18.2 million for 2013, according to a regulatory filing made with the Securities and Exchange Commission on Friday. He earned $21.6 million the previous year.
The decline was primarily the result of a lower performance-based bonus, which fell to $2.2 million, from $6 million the previous year. That portion of his pay is tied to financial metrics such as sales volume, which rose just 2 percent for the year. The previous year, the figure had increased 4 percent, in line with the company's long-term targets.
A new cap for that portion of Kent's pay was triggered this year because Coca-Cola's total shareholder return fell below the median of the companies in the Standard & Poor's 500.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- S&P races to August milestone
- Young adults drive home rental trend in Western Pennsylvania
- Government approves compromise on Corbett’s alternative Medicaid plan
- Customers anxious for details about Highmark transition plan for W. Pa.
- EDMC reaches debt-restructuring deal with creditors
- UPMC to help China build private medical center to boost public care there
- Twitch.tv online network reveals value of video gaming market
- Auto market booming, but longer loan terms cause concern
- Economy grew at brisk 4.2% rate in Q2
- Abercrombie name to shrink from clothing
- Housing contracts rise as mortgage rates fall