Coca-Cola Will Factor Rank-And-File Wages Into Exec Pay

Law360 (March 6, 2020, 4:21 PM EST) -- Coca-Cola has agreed to consider its workers' wages when deciding how much to pay its executives as part of an agreement with New York's pension fund, the state comptroller said Friday.

State Comptroller Thomas P. DiNapoli, the trustee of the New York State Common Retirement Fund, said in his statement that the fund dropped a shareholder resolution it submitted at the Coca-Cola Co. 2020 annual shareholder meeting in response to the agreement.

According to the statement, the New York State Common Retirement Fund is the third-largest pension fund in the country, with $210.5 billion in assets as of March 2019....

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