Coca Cola CEO Muhtar Kent Can't Be Blamed For Shift in Consumer Preferences

Wintergreen Advisers, a minority shareholder in Coca-Cola, is calling for chief executive Muhtar Kent to be replaced. Wintergreen alleges that strategic investments made by Kent have cost shareholders $16.3 billion. Adam Fleck, director of consumer equity research at Morningstar, acknowledges that it's reasonable to question Coke's 2010 acquisition of its North American bottlers as well as its 2007 Glaceau deal. However, Fleck says the criticisms of Kent come at a time when the North American carbonated soft drink business has been struggling. While Fleck says that a shift in consumer preferences can't be blamed on Kent, he believes the company is starting to work on things it can control and the company is setting itself up for better days ahead.