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Coca-Cola Company Directors Page
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Coca-Cola Company Directors Page
The Company currently holds approximately 44% of the issued and outstanding shares of common stock of Coca-Cola Enterprises Inc. ("Coca-Cola Enterprises"). In August 1997, the Company sold its approximate 48% interest in Coca-Cola Beverages Ltd. and its approximate 49% interest in The Coca-Cola Bottling Company of New York, Inc. to Coca-Cola Enterprises Inc., each of which is now held as a subsidiary of Coca-Cola Enterprises Inc.
James B. Williams, a Director of the Company, is Chairman of the Board of Directors and Chief Executive Officer of SunTrust. Subsidiary banks of SunTrust engaged in ordinary course of business banking transactions in 1997, and are expected to engage in similar transactions in 1998, with Coca-Cola Enterprises and its subsidiaries, including the making of loans on customary terms, for which fees of approximately $1.076 million were paid in 1997.
SunTrust Bank, Atlanta participated in 1997 in a syndicate of lenders which provided a senior credit facility to Coca-Cola Beverages Ltd. in the aggregate amount of Cdn.$425 million, and under which SunTrust Bank, Atlanta's commitment in 1997 was Cdn.$51 million. In 1997, SunTrust Bank, Atlanta received fees and interest of approximately U.S.$1.78 million with respect to SunTrust's proportionate share of the amount extended under such facility. Such facility was paid down and cancelled in November 1997. In the opinion of management, the terms of such arrangements were fair and reasonable and as favorable to Coca-Cola Beverages Ltd. as could have been obtained from a wholly unrelated party.
SunTrust Bank, Atlanta served in 1997 as co-agent for a syndicate of banks for a $315 million credit facility for The Coca-Cola Bottling Company of New York, Inc. Such facility was paid down and cancelled in December 1997. In 1997, that company paid approximately $1.1 million for fees and interest to SunTrust Bank, Atlanta for its $55 million commitment under this facility and for a letter of credit. In the opinion of management, the terms of such arrangements were fair and reasonable and as favorable to The Coca-Cola Bottling Company of New York, Inc. as could have been obtained from a wholly unrelated party.
Warren E. Buffett, a Director of the Company, is Chairman of the Board of Directors, Chief Executive Officer and a major share owner of Berkshire Hathaway Inc., which company holds a significant equity interest in The Washington Post Company. In 1997, Coca-Cola Enterprises paid approximately $62,000 to that company for advertising costs.
The following table sets forth information regarding ownership of the common stock of Coca-Cola Enterprises of the Directors, the Company's five most highly compensated executive officers and the Directors and executive officers of the Company as a group who own any shares of such common stock as of February 20, 1998. The amount for Mr. Goizueta is shown as of the date of his death.
AGGREGATE NUMBER PERCENT OF
OF SHARES OUTSTANDING
NAME BENEFICIALLY OWNED/1/ SHARES
- ---- --------------------- -----------
Herbert A. Allen............................ 7,132,818/2/ 1.84%
Charles W. Duncan, Jr. ..................... 105,000/3/ *
Donald F. McHenry........................... 1,000 *
Peter V. Ueberroth.......................... 3,032/4/ *
Roberto C. Goizueta......................... 15,000 *
M. Douglas Ivester.......................... 53,284/5/ *
Jack L. Stahl............................... 3,000 *
E. Neville Isdell........................... 24,002/6/ *
All Directors and Executive Officers as a
group (27 persons)......................... 7,338,684/7/ 1.90%
* Less than 1% of issued and outstanding shares of common stock of the indicated entity.
/1/ Share amounts have been adjusted to reflect a 3-for-1 stock split effective May 1, 1997.
/2/ Includes 6,900,000 shares owned by Allen & Company Incorporated ("ACI"). Also includes 160,518 shares which represent Mr. Allen's children's interests in a partnership and 27,000 shares owned by his children; Mr. Allen has disclaimed beneficial ownership of such shares. Does not include 105,000 shares held by ACI's pension plan over which Mr. Allen does not have voting or investment power.
/3/ Includes 90,000 shares held as community property with Mr. Duncan's wife and 15,000 shares owned by a partnership of which he is a general partner.
/4/ Shares are owned by a trust of which Mr. Ueberroth is one of two trustees.
/5/ Includes 630 shares jointly owned with Mr. Ivester's parents and 9,904 phantom units issued under the Coca-Cola Enterprises Inc. Deferred Compensation Plan for Non-Employee Director Compensation. Also includes 2,388 shares owned by his wife and 255 shares jointly owned by his wife and his mother-in-law; Mr. Ivester has disclaimed beneficial ownership of such shares.
/6/ Includes 7,500 shares which may be acquired upon the exercise of currently exercisable options and 10,502 phantom units issued under the Coca- Cola Enterprises Inc. Deferred Compensation Plan for Non-Employee Director Compensation. Mr. Isdell resigned as Senior Vice President and President of the Greater Europe Group of the Company in February 1998.
/7/ Includes 20,954 phantom units issued under the Coca-Cola Enterprises Inc. Deferred Compensation Plan for Non-Employee Director Compensation. Includes Mr. Goizueta's and Mr. Isdell's shares.