Coca-Cola Co. shareholder David Winters, who raised a ruckus over the company’s incentive pay plan in April, is getting back in the fray -- this time accusing Warren Buffett of plotting to take the soft-drink maker private.
Warren Buffett owes it to shareholders of his Berkshire Hathaway Inc. to vote against Coca-Cola Co.’s executive-compensation plan, said David Winters, a money manager who controls stakes in both companies.
David Winters , manager of two of the best-performing mutual funds over the past decade, said global stocks may rise in 2011, possibly sending benchmark indexes to record highs as the government helps stimulate economic growth.
Coca-Cola Co. won investor approval for its plan to award employees with stock, overcoming an argument from money manager David Winters that lavish pay packages are diminishing returns for shareholders.
Coca-Cola Co., facing criticism of its stock-compensation program from investor Warren Buffett, said the plan offers “maximum flexibility” for future adjustments, though no changes are currently in the works.
Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., said a private conversation with Coca-Cola Co. CEO Muhtar Kent was better than publicly rebuking him over the company’s compensation plan.
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said he opposes Coca-Cola Co.’s plan to pay employees with stock and abstained from a vote on the proposal out of loyalty to the soft-drink maker.