NEW YORK (TheStreet) -- One of The Coca-Cola Co.'s (KO) minority shareholders, Wintergreen Advisers, said the soft drink maker's CEO Muhtar Kent is "incapable of leading Coke's turn around and should be replaced," Reuters reports.
Shares of Coca-Cola are lower by 0.22% to $40.82 in mid-afternoon trading on Monday.
Wintergreen Advisors owns less than 1% of Coca-Cola and believes the company's shares were "deeply discounted" due to bad management and governance, Reuters added.
"The strategic investments made by CEO Muhtar Kent have destroyed shareholder value. His blunders on failed acquisitions alone have cost shareholders $16.3 billion," Wintergreen said in a statement.
The shareholder said it was worried about Coke's new equity compensation guidelines continuing to unfairly reward the company's high level management, and added that cash bonuses could end up costing shareholders as much as $10.20 per share, Reuters noted.
Separately, TheStreet Ratings team rates COCA-COLA CO as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate COCA-COLA CO (KO) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, reasonable valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."