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Wintergreen Advisers
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Wintergreen Advisers is an investment adviser managed by global value investor David Winters.
Wintergreen Advisers is an investment adviser managed by global value investor David Winters.

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Wintergreen Advisers today issued a report on The Coca-Cola Company’s 2015 Proxy Statement. 

David J. Winters, CEO of Wintergreen Advisers, said: “While there has been progress in some areas at Coca-Cola, the board continues to give Muhtar Kent and his team excessive rewards, and we question whether many Coca-Cola directors are able to vigorously act for all shareholders given their overlapping business interests.”

The report notes that a year ago Wintergreen brought attention to what it saw as serious pay and governance problems at The Coca-Cola Company, beginning with a proposed equity compensation plan it called “Coke’s Big Grab” for its potential for whopping payouts to management. Coca-Cola later said it would curtail the plan.
 
This year, the Wintergreen report notes, Coca-Cola’s proxy statement contains better disclosure than a year ago regarding the value of equity incentive compensation and required performance hurdles for management. Importantly, it shows Coca-Cola did not issue secret bonus shares – the much-criticized stock awards granted without criteria.   However, the proxy statement shows Coca-Cola is falling short in other important areas.  

http://www.businesswire.com/news/home/20150413006328/en/Wintergreen-Advisers-Cites-Coca-Cola-Proxy-Big-Issues#.VSv65PnF9Jk

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Bryant Park Financial Communications and Wintergreen Advisers were awarded the prize for the best Investor/Financial Communications Campaign at the 2015 PRWeek Awards on March 19 in New York City.

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Listen to David Winters discuss the ongoing issues at Coca-Cola on the podcast, Wall Street Unfiltered, with Mark Melin via ValueWalk​:

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David Winters: "The problem is, [Muhtar Kent] has created an impression he took a hit, and he didn't take the hit."

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