Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (AP) — Coca-Cola CEO Muhtar Kent, who is stepping down in May, received compensation worth $16 million last year, according to a regulatory filing.
Kent, 64, has overseen a challenging period for the company recently as it adapts to changing drinking habits.
His compensation included a salary of $1.6 million, stock and options worth $9.5 million and incentive pay of $4.1 million. Other compensation included costs for travel, security and contributions to a retirement and savings plan, according to a filing with the Securities and Exchange Commission. It's an increase from $14.6 million in 2015.
Kent, chief executive since 2008, will continue serving as board chairman after James Quincey, Coke's president, becomes CEO.
The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
