Business Services Industry

Coca-Cola man investigated for insider trading earmarked as company's No. 2.

Australasian Business Intelligence, December, 2006

Byline: Leon Gettler

Dec 03, 2006 (The Age - ABIX via COMTEX) -- Muhtar Kent is the current president of Coca-Cola International and of the company's North Asia, Eurasia and Middle East group. Insiders claim he is about to be promoted to the role of COO at the multinational soft drink manufacturer. In 1996, the Australian Securities & Investments Commission had investigated the disposal by Kent of stock in Australia's Coca-Cola Amatil, just prior to an unexpected profit downgrade. It was agreed that Kent should reimburse the buyers of the parcel of shares with a total of $A400,000, as well as paying the regulator's costs of $A50,000. The Coca-Cola parent says the matter has been fully resolved. Kent had resigned from the business in 1999 but returned to...

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