Thursday, June 15, 2006

A Proxy Battle: Shareholders vs. CEOs


The atmosphere outside the Hotel du Pont in Wilmington, Delaware, where Coca-Cola was holding its 2006 shareholder meeting, was a festive one. For a company that has worked hard to make its beverages appear ubiquitous in sports stadiums and amusement parks, it was appropriate enough.

The trouble was, it wasn’t the kind of festivity Coke ever asked for – or wanted.

A circus-like gathering of protesters vied to get the attention of, or steal the spotlight away from Coke CEO E. Neville Isdell: Harvard students beating on plastic barrels with drumsticks, union reps unloading into bullhorns and a blind taste-test daring passers-by to tell the difference between Delaware tap water and the much more expensive variety that Coca-Cola sells under the toney name Dasani.

See full Article.