Brands
Coca-cola extends Shares tenure under Existing 2014 Equity Plan
ATLANTA, Oct. 1, 2014 – The Coca-Cola Company today announced that the Compensation Committee of its Board of Directors has adopted Equity Stewardship Guidelines for the Company’s existing 2014 Equity Plan, which was approved by shareowners at the Company’s 2014 Annual Meeting in April. The Equity Plan was designed to provide significant flexibility in how and to whom long-term equity awards are made.
The Guidelines will extend the years shares will last under the approved Equity Plan by using fewer shares each year, increase transparency about equity awards, formalize the Company’s existing practice of share repurchases to minimize dilution, and renew commitments to continue an open dialogue with shareowners on compensation matters. Full guidelines at link here.
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“The flexibility of our 2014 Equity Plan enabled us to create an even stronger program within the existing plan that reinforces our pay-for-performance approach to compensation,” said Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company. “Further to the approval of the 2014 Equity Plan in April of this year, we have developed Guidelines that further align compensation to the long-term interests of shareowners. We will continue to provide long-term incentive awards to a broad-based group of employees with performance metrics that drive line-of-sight accountability directly to business results.”
Pursuant to the Guidelines, the Compensation Committee will manage equity grants under the Equity Plan to an annual “burn rate” (the number of shares granted as a percentage of outstanding shares) of no more than 0.8% in 2015 and to an average of 0.4% for the remaining life of the plan.
Consistent with the Guidelines, the shares under the existing Equity Plan will be used as follows.
- The long-term incentive program will continue to provide awards to a broad-based population of employees. The majority of employees currently eligible for long-term awards will begin receiving long-term incentives as performance cash awards in 2015, which will continue to provide competitive incentives consistent with the Company’s pay-for-performance philosophy.
- For the employees who remain eligible for equity awards, the mix of equity awards will be adjusted to be more heavily weighted to performance shares and less heavily weighted to stock options. After a one-year transition, by 2016, the mix is expected to be approximately 2/3 performance shares and 1/3 stock options.
- Beginning in 2015, performance metrics applied to long-term awards will provide a balanced approach to incentives, increase alignment with local operations and pay for results that employees can more directly influence. Further details will be announced in the coming months.
As a result, we expect the shares authorized under the Equity Plan will last the plan’s full term of ten years.
“Shareowner engagement has produced positive results for our Company on a variety of fronts, including on compensation matters,” said Maria Elena Lagomasino, Chair of the Company’s Compensation Committee. “Shareowner input on this important topic has directly led to the development of these new Guidelines, which are in line with the long-term interests of shareowners.”
The premiere of the “Indomie Love Bowl,” a family game show sponsored by Indomie in collaboration with Multichoice, is scheduled for October 22, 2023.
The 13-episode series will showcase three families per episode, competing for the coveted title and attractive prizes.
The victorious family in the reality show stands to gain significant rewards, with the first-place winners earning an impressive 5 million Naira.
The second and third-place families will receive 2.5 million Naira and 1.5 million Naira, respectively. Beyond the cash prizes, the winning families will relish a two-year abundance of Indomie products, renowned for their delightful flavor and quality.
Asiwaju Temitope, Head of Corporate Communications for Indomie, emphasized the brand’s deep connection with love and excitement in the food category as the driving force behind the show.
The primary goal of the show is to elevate values such as love within families, particularly emphasizing the special bonds between mothers and children.
The collaboration with Multichoice was a strategic move, leveraging its broad outreach and the widespread accessibility of DSTV in numerous households. This ensures the game show’s broad and impactful reach.
“We created this games show and we chose this with family represented by mums and children. It’s going to involve several families and winners willl emerge based on the programmes. 3 families will emerge as winners with consolatory prizes. We chose Multichoice because it is a big reach and there’s no home where you won’t find DSTV”.
Busola Tejumola, Executive Head of Content and West Africa Channels at Multichoice West Africa, underscored that the “Indomie Love Bowl” revolves around themes of unity, bonding, and the special affection between mothers and children.
Set to debut on October 22, 2023, at 7 pm on the Africa Magic Family channel, the show aims to deliver thrilling moments and dynamic interactions among family members.
Stephanie Coker, the show’s host and On-Air personality, expressed her joy in being involved in the project, particularly as a mother. She eagerly anticipated watching the show with her daughter, celebrating the special bond between mothers and children, the exciting games, and the evident team spirit. Coker also emphasized the chemistry with her co-host, Darasimi, promising an engaging experience for the audience.
BUA Cement PLC has declared a cut in the price of its cement product to N3,500 per bag, effective from Monday, October 2, 2023.
. The company cites its dedication to fostering growth in the building materials and infrastructural sectors as the reason behind this reduction.
The announcement was made through a statement posted on its X page, previously known as Twitter.
This decision follows the chairman, Abdul Samad Rabiu’s commitment to reviewing the product’s price after a meeting with President Bola Tinubu weeks ago.
The statement read in part, “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.
“As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward.
“As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.
“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”
Dangote Industries Limited has received the prestigious Brand of the Year award, acknowledging the company’s outstanding corporate performance in the past year.
At a ceremony held in Lagos, John Ajayi, the Publisher of Marketing Edge, clarified that the award conferred upon Dangote is the flagship recognition, highlighting the company’s consistent contributions to the economic advancement of Nigeria and Africa.
Mr. Ajayi emphasized that this recognition encompasses a broad spectrum of business investments and corporate initiatives carried out by Dangote across the African continent.
He noted “This recognition covers many business investments and corporate interventions carried out by the company in Africa as a continent.”
During the award presentation, he credited Dangote’s exceptional position in its industry to its robust efforts in generating employment opportunities, thereby positively impacting numerous youths.
Additionally, he praised Dangote Industries for its steadfast dedication to the development of vital infrastructure.
He highlighted that the award presentation marked a significant milestone during Marketing Edge’s 20th-anniversary celebration and the 11th edition of its annual Brands and Advertising Excellence Award.
Numerous other brands were also honored for their exceptional achievements in the market.
Mr. Ajayi underscored that Marketing Edge’s two-decade presence in the industry has firmly established it as a trustworthy and authoritative partner for all stakeholders in the Nigerian marketing and advertising landscape.
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