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Coca-Cola Enterprises CEO Earns $1.1M



By LAUREN SHEPHERD, AP
06 March 2008 @ 06:03 pm EST

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CCE 10 -2.13

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At that meeting, shareholders will vote on a proposal that would require the board of directors to seek shareholder approval for future severance agreements with senior executives if the agreement provides benefits exceeding 2.99 times the sum of the executive's base salary plus bonus.

The International Brotherhood of Teamsters General Fund submitted the proposal and said in the proxy that more than 30 percent of voting shareholders supported the same resolution last year.

The board is recommending shareholders vote against the proposal, saying it is already monitoring its severance program.

Coca-Cola Enterprises shares fell 60 cents to close at $24.35.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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