(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 <.SPX>.
(Reporting by Shailaja Sharma in Bangalore; Editing by Saumyadeb Chakrabarty)
