TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Coca-Cola CEO's pay, bonus drop

Daily Photo Galleries

Business Photo Galleries

By The Associated Press
Saturday, March 8, 2014, 12:01 a.m.
 

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

Most-Read Business Headlines

  1. Dick’s cuts PGA professionals as golf business declines
  2. Health insurers will refund $5.2M to Pa. subscribers, group plans
  3. Rising number of health care workers have less than 4-year degree, study shows
  4. Europe thirsts for U.S. craft beer
  5. Wabtec 2Q profit jumps 18.9%; raises forecast for year
  6. EQT posts $110.9 million profit in latest quarter
  7. Wesco posts higher profit, lowers full year outlook
  8. Study: Google dominates driverless car buzz
  9. 1,600 StubHub accounts breached, N.Y. official says
  10. U.S. growth weakest since recession, IMF says
  11. GM issues 6 more safety recalls
Subscribe today! Click here for our subscription offers.