Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Coca-Cola Company (The)    KO

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Independent director Daft quits Green Mountain board

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/25/2012 | 01:26am CEST

Green Mountain Coffee Roasters Inc (>> Green Mountain Coffee Roasters Inc.) independent director Douglas Daft resigned from its board this week at a time when concerns of slowing growth and allegations of accounting malpractices have hammered the stock.

Green Mountain Coffee Roasters Inc (>> Green Mountain Coffee Roasters Inc.) independent director Douglas Daft resigned from its board this week at a time when concerns of slowing growth and allegations of accounting malpractices have hammered the stock.

Green Mountain, the maker of Keurig one-cup coffee brewers, reported the resignation of the former Coca-Cola Co (>> The Coca-Cola Company) CEO on Thursday in a filing with the U.S. Securities and Exchange Commission.

Green Mountain's board has been under scrutiny after the company's founder and former chairman, Robert Stiller, and a senior director were demoted earlier this month for selling company shares when it was prohibited.

Daft, 69, resigned from the board on May 22 for personal reasons, including "extensive overseas and travel commitments," and not because of any disagreement over the running of the company, Green Mountain said in the filing.

But some said the resignation would be seen as another blow to the company.

"Markets get spooked when board members resign, for whatever reason. If a company is in trouble, having a named director departing very often signals that something is more wrong than we anticipated," Bevmark Consulting CEO Tom Pirko said.

A call to Daft's home was unanswered. Daft was the most recent addition to the company's board, joining in late 2009. Out of the eight current members, five have been on the board since the 1990s.

Daft is also on the board of Wal-Mart Stores Inc (>> Wal-Mart Stores, Inc.), which is facing separate probes by the U.S. and Mexican governments into bribery allegations related to its Mexico business.

"It's always tricky when you're trying to read someone's soul from afar ? but obviously, any changes at such a critical time are going to be looked upon a certain way," said an analyst who did not have clearance to speak to the press and therefore declined to be identified by name.

Green Mountain's once high-flying stock has lost 78 percent of its value since touching a life high of nearly $116 last September after well-known short seller David Einhorn questioned the company's accounting practices and growth potential in an investor presentation.

Two disappointing quarters out of the three that followed Einhorn's presentation further eroded investor confidence in the management.

Green Mountain, which on Thursday said it would cut its board size to eight from nine, has been facing an ongoing SEC inquiry since September 2010 into its revenue recognition practices and the company's relationship with a key distributor.

The company's shares closed at $25.09 on Thursday on the Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Sriraj Kalluvila, Viraj Nair and Bob Burgdorfer)

By Mihir Dalal and Martinne Geller

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on COCA-COLA COMPANY (THE)
09/24 COCA COLA : New coordinator hopes to shine spotlight on downtown
09/24 COCA COLA : Lessons from Rural India
09/22 COCA COLA : A Coke and smile
09/21 COCA COLA : Patent Issued for Systems and Methods for a Bow Label for a Beverage..
09/21 COCA COLA : Trademark Application for "WHOLLY GRAIN" Filed
09/21 COCA COLA : Trademark Application for "MADE BY MOUNTAINS" Filed
09/21 COCA COLA : Trademark Application for "PASSIONITA MARGARITA" Filed
09/21 COCA COLA : Announces Branded Content First within EA SPORTS FIFA 18
09/20 COCA COLA : ANC to Close National Campaign Rally October 7
09/19 COCA COLA : Outreach welcomes new board members
More news
News from SeekingAlpha
09/19 REED'S 2.0 : Still A Work In Progress
09/19 My Valuation Of Berkshire Hathaway
09/18 COCA-COLA : The Dividend Is Safe
09/18 Will Coca-Cola Go Back To The Good Old Days?
09/18 Happy news for Honest Tea
Financials ($)
Sales 2017 35 064 M
EBIT 2017 -
Net income 2017 7 337 M
Debt 2017 26 894 M
Yield 2017 3,16%
P/E ratio 2017 30,33
P/E ratio 2018 23,21
EV / Sales 2017 6,30x
EV / Sales 2018 7,08x
Capitalization 194 B
Chart COCA-COLA COMPANY (THE)
Duration : Period :
Coca-Cola Company (The) Technical Analysis Chart | KO | US1912161007 | 4-Traders
Technical analysis trends COCA-COLA COMPANY (THE)
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 47,4 $
Spread / Average Target 4,2%
EPS Revisions
Managers
NameTitle
James Quincey President, Chief Executive Officer & Director
Ahmet Muhtar Kent Chairman
Kathy N. Waller CFO, President-Enabling Services & Executive VP
Eddie R. Hays Chief Technical Officer & Senior Vice President
Barry N. Simpson Chief Information Officer & Senior Vice President
Sector and Competitors
1st jan.Capitalization (M$)
COCA-COLA COMPANY (THE)9.50%194 029
DR PEPPER SNAPPLE GROUP INC.-2.13%16 126
SUNTORY BEVERAGE & FOOD LTD4.22%13 958
COCA COLA HBC AG43.33%12 590
ARCA CONTINENTAL SAB DE CV17.18%12 497
TINGYI (CAYMAN ISLANDS) HOLDING CORP.28.63%8 642