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Coca-Cola paid CEO $6 mn in 2005
Beverage giant Coca-Cola Co disclosed on Friday that Neville Isdell earned $6 million in salary and bonus for 2005.
Beverage giant Coca-Cola Co disclosed on Friday that Neville Isdell earned $6 million in salary and bonus for 2005, his first full year as chief executive and chairman.
Isdell was paid a salary of $1.5 million and a $4.5 million bonus, the company said in its proxy filed with the US Securities and Exchange Commission. In 2004, Isdell received salary of $875,000 and a bonus of nearly $2.9 million.
Isdell, 62, was named to Coca-Cola's top job in June 2004, succeeding Doug Daft.
The filing also said Isdell received options on 620,690 shares for 2005, compared with 450,000 the prior year. Many factors determined Isdell's pay, including performance goals, his reorganization of the business and improvement in worker morale, the filing added.
Atlanta-based Coca-Cola said its annual meeting would be held April 19 in Wilmington, Delaware. Billionaire investor Warren Buffett is one of three directors stepping down from the board.
The company's shares rose 37 cents to close at $42.77 on the New York Stock Exchange on Friday. Coca-Cola trades at about 18.8 times expected earnings for 2006, compared with a multiple of 20.5 for rival PepsiCo Inc, according to estimates.
