The CEO of world's largest beverage company Coca-Cola, Muhtar Kent was offered a pay package of $18.1 million in the previous years after the company failed to meet its own growth targets. Kent, 60, has been working with the beverage company since 2008.
According to a filing made on Thursday with the Securities and Exchange Commission, the compensation is on par with the $18.2 million, which Kent received in 2013.
It is said that Kent's pay package might have been higher if Kent had accepted a $2.5 million cash performance bonus.
Kent said in a statement that he decided not to accept the bonus because the company has been planning to take some important decisions to improve its performance, and therefore there was a lot of work left to be done.