Perdido 03

Perdido 03

Monday, November 22, 2010

Cathie Black Got An F As A Coke Board Member

The Daily News reports that the Coca-Cola board of directors was given a D rating by the Corporate Library,a research firm that ranks board performance and executive pay.

In July of 2008, that grade was changed to an F.

Cathe Black was a member of that board for a long time.

Here is why the Corporate Library gave that grade:

In the past nine years, she has run the board's Compensation Committee, which has awarded what many critics dubbed outsize pay, profligate perks and golden parachutes.


The world's largest maker of fizzy drinks pays CEO Muhtar Kent $18.8 million - including $659,000 in perks for jets, chauffeurs, insurance, "security monitoring" at home and financial planning to help with his taxes.


Corporate Library criticized the "entrenched" nature of Coke's board, noting that seven of 14 board members, including Black, logged more than 15 years.

"All this raises concerns about board entrenchment, independence and commitment," the firm wrote, blasting the board without criticizing Black by name.

Now when a NYC school gets a D on its "school report card," it is threatened with a shutdown.

When a NYC school gets an F on its "school report card," it is shutdown.

When a Coca-Cola board that hands out ridiculous compensation to the CEO of the company gets a D or an F on its report card, it just keeps going and going and getting paid and paid and handing out more and more compensation and perks.

Just another example that accountability is for little people, ridiculous compensation and perks are for Cathie Black and people like her.

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