Dec
05
Early this year, The Coca Cola Company announced that executive Muhtar Kent would head up Coke's international operations.
Since then, Kent has been tipped to be Coke's next Chief operating officer, effectively the number two position.
But about 10 years ago, Kent was investigated by the Australian regulator for shorting stock of the company's Australasian bottler Coca-Cola Amatil, just before a profit warning. Coca-Cola Amatil shareholders took a bath but Kent made a nice profit.
I look at that issue in my piece
here
After an investigation, Kent repaid the profit from the sale, and there was no further action. According to Australian regulators, Kent said his decision to sell the shares was not influenced by any information he possessed re Amatil’s results and “he had been assured by his financial advisers, and believed, that the sale was legal. A Coke system executive who knows Kent told BD: “When this happend, (Kent) was upset and embarrassed. This is a man who values his honor and integrity…
Cited from http://www.beverage-digest.com/pdf/061208-special.pdf