8-KLeadership ChangesExhibits & Filings

COCA COLA CO 8-K Report, Executive Changes (Jul 19, 2013)

Filed July 19, 2013For Securities:KO

Summary

This 8-K filing by The Coca-Cola Company (KO) on July 18, 2013, announced a significant change in its Board of Directors. The size of the Board was increased to 17 members, and Ana Botín was elected as a new Director. This expansion and addition of a new director indicate the company's strategy to enhance its governance and potentially bring in new expertise. Ms. Botín's appointment is effective immediately for her director role, and she will participate in the company's Directors' Compensation Plan starting January 1, 2013. Her compensation for 2013 will be prorated and will include a mix of cash and deferred share units. The filing also confirms that Ms. Botín has no reportable transactions requiring disclosure under Regulation S-K and was not selected based on any specific arrangements with other parties, suggesting a standard director appointment process.

Key Highlights

  • 1The Coca-Cola Company increased its Board of Directors size to 17 members.
  • 2Ana Botín has been elected as a new Director to the Board.
  • 3Ms. Botín's directorship is effective as of the filing date, July 18, 2013.
  • 4Ms. Botín will participate in the company's Directors' Compensation Plan, effective January 1, 2013.
  • 5Her 2013 compensation as a director will be prorated.
  • 6Director compensation includes both cash payments and deferred share units.
  • 7There are no disclosed related-party transactions or special arrangements concerning Ms. Botín's appointment.

Frequently Asked Questions

Ana Botín is a new Director elected to The Coca-Cola Company's Board. While the filing doesn't detail her specific background or reasons for appointment beyond her election, such appointments typically aim to bring diverse expertise and experience to the board. Investors may refer to the attached press release (Exhibit 99.1) for further details on her qualifications.

Ms. Botín will receive prorated compensation for 2013 under The Coca-Cola Company Directors' Plan. This compensation consists of $30,000 paid in quarterly cash installments and $120,000 in deferred share units.

No, the filing explicitly states that there are no transactions in which Ms. Botín has an interest requiring disclosure under Item 404(a) of Regulation S-K. Furthermore, there is no arrangement or understanding between Ms. Botín and any other persons pursuant to which she was selected as a director, indicating a standard appointment process.

Following the election of Ana Botín, the size of The Coca-Cola Company's Board of Directors has been increased to 17 members.