Wintergreen Advisers today issued the following statement:
After several weeks, Coca-Cola (NYSE: KO) appears to be taking seriously
the issues we raised regarding its equity plan in our first letter to
Coca-Cola's Board and Warren Buffett on March 21st.
But vague promises from unnamed sources are not enough. Coca-Cola must
make a detailed, publicly disclosed commitment to withdraw or
substantially modify the plan. We would expect the modifications to
include the reduced use of equity awards as incentive compensation.
Coca-Cola's shareholders deserve nothing less.
Shareholders also deserve an answer to an important question: What were
the events that led up to the decision by the Board to accept a plan
that Coca-Cola's largest shareholder and most famous investor agrees is
excessive?
Copyright Business Wire 2014