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Food & Beverage

Coca-Cola CEO''s Pay Package Increases 30 Percent

March 14, 2011
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The Associated Press reports that Coca-Cola Co.''s Chairman and CEO, Muhtar Kent, received compensation valued at $19.2 million in the 2010 fiscal year, 30 percent more than the year before, as his bonus and stock awards increased, according to an Associated Press analysis. Kent has been CEO of the world''s biggest drink maker since July 2008. Coca-Cola maintained his base salary at $1.2 million. His performance-based cash bonus increased 18 percent to $6.5 million, according to a regulatory filing submitted last week. Coca-Cola did not grant any stock awards to its executives in 2009. This year, Kent received stock awards valued at $5.1 million. He also received options awards valued at $5.7 million at the time they were granted, down from $7.4 million worth of options granted in 2009. Kent also received perks, such as personal drivers, use of the company aircraft and financial planning services, worth $737,848. That''s 12 percent higher than the $659,274 in perks a year earlier. The company''s net income surged 73 percent to $11.81 billion in the most recent fiscal year, and revenue rose 13 percent to $35.12.

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