"I think the new plan makes great, great sense," Buffett told cable business channel CNBC, referring to Coca-Cola's new guidelines to limit the executive compensation plan, starting next year.
"I think it’s remarkable what Coke did," said Buffett, whose Berkshire Hathaway is the company's biggest shareholder with a 9.1 percent stake. Referring to Maria Elena Lagomasino, chair of Coca-Cola’s compensation committee, Buffett said, "I tip my hat to her."
Buffett said he felt as good as ever about his investment in Coca-Cola. He told CNBC earlier this year he had abstained from a shareholder vote on its controversial equity compensation plan when it came up for renewal in April, even though he considered it excessive. -(Reporting by Sam Forgione in New York; Editing by Jeffrey Benkoe) Thursday, October 02, 2014
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