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Wintergreen Advisers today released the following statement by David Winters:
“Coca-Cola
KO has finally conceded that the equity compensation plan
it put to a vote of shareholders in April was outrageously excessive and
inconsistent with past plans. This has been Wintergreen Advisers' publicly
expressed view since we first read Coca-Cola's proxy statement in March of
this year. No amount of backtracking by the Coca-Cola board of directors can
hide the fact that we believe it tried to sneak one by shareholders in
Coca-Cola's proxy materials and statements at the April shareholder meeting.
Today's statement by Coca-Cola only calls into question the competence and
leadership of the board of directors and management. Much more work has to be
done to revitalize Coca-Cola and restore trust in the company.”
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