8-KLeadership ChangesExhibits & Filings

COCA COLA CO 8-K Report, Executive Changes (Dec 9, 2010)

Filed December 9, 2010For Securities:KO

Summary

This 8-K filing by The Coca-Cola Company announces a key change in its Board of Directors. Effective December 9, 2010, the size of the Board was expanded to 15 members with the election of Howard G. Buffett. Mr. Buffett's appointment is significant as it brings new perspectives and experience to the company's governance. He has also been appointed to the Public Issues and Diversity Review Committee, effective January 1, 2011, indicating a focus on these critical areas for the company. Investors should note the compensation details for Mr. Buffett as a non-employee director. He will receive annual compensation of $175,000 in 2011, with a portion payable in cash or deferred share units at his discretion and the remainder in deferred share units. This information, along with the reference to the company's proxy statement, provides transparency into executive and director compensation practices.

Key Highlights

  • 1Howard G. Buffett elected as a new Director to the Board.
  • 2The size of the Board of Directors has been increased to 15 members.
  • 3Mr. Buffett appointed to the Public Issues and Diversity Review Committee, effective January 1, 2011.
  • 4Mr. Buffett will receive annual compensation of $175,000 in 2011 as a non-employee director.
  • 5Compensation includes a mix of cash/deferred share units and solely deferred share units.
  • 6Details of the director compensation plan are available in the company's 2010 proxy statement.

Frequently Asked Questions

Howard G. Buffett is a new Director elected to The Coca-Cola Company's Board. While the filing doesn't detail his specific background, his appointment to the Board and a key committee suggests he brings valuable expertise relevant to public issues and diversity, which are important strategic areas for large corporations. His involvement can offer new insights and contribute to the company's governance and strategic direction.

Mr. Buffett is entitled to annual compensation of $175,000 for his role as a non-employee director in 2011. This compensation is structured with $50,000 payable at his discretion in cash or deferred share units, and the remaining $125,000 paid in deferred share units.

The election of Howard G. Buffett as a Director was effective on December 9, 2010. His appointment to the Public Issues and Diversity Review Committee is effective January 1, 2011.

More details about The Coca-Cola Company's Compensation and Deferred Compensation Plan for Non-Employee Directors can be found on pages 35 to 39 of the company's proxy statement for its 2010 Annual Meeting of Shareowners, which was filed with the SEC on March 5, 2010.