Buffett says Coke's plan has fizz
Paper says billionaire investor believes the plan will align the interests of directors and shareholders.
NEW YORK (CNNMoney.com) - Warren Buffett, the billionaire investor, defended Coca-Cola's decision to make boardroom pay entirely dependent on company performance, according to a recent report.
Buffett said that the unprecedented move would align the interests of directors and shareholders, the Financial Times said Friday.
On Wednesday, Coke said it would pay its directors only if earnings growth goals are met, leaving board members at the world's largest soft drink maker with no compensation if targets are missed.
Click here to read: Coke directors: No growth, no pay.