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Coca-Cola shareholder says CEO Kent should be replaced


    (Reuters) - Wintergreen Advisers, a minority shareholder in Coca-Cola Co , said Chief Executive Muhtar Kent was "incapable of leading Coke's turnaround and should be replaced".

    Wintergreen, which owns less than 1 percent of Coca-Cola, said the company's shares were deeply discounted because of poor management and governance. (http://bit.ly/1zgoDKY)

    "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 accompanying an analysis of Coca-Cola's performance.

    Up to Friday's close, Coke's shares had fallen about 1 percent this year, compared with an 8 percent rise in the S&P 500 index .

    (Reporting by Shailaja Sharma in Bangalore; Editing by Saumyadeb Chakrabarty)