Coca-Cola to Weigh Total Employee Wages in Setting Executive Pay

The Coca-Cola Co. will consider the wages of all its employees when setting executive salaries, according to an agreement with New York state’s $210.5 billion pension fund.

The state pension fund, as a shareholder, had requested in November that the Atlanta-based beverage company examine pay grades and salary ranges for all employees when setting target amounts for executive compensation.

State Comptroller Thomas DiNapoli on Friday announced the state will withdraw its shareholder resolution after Coca-Cola agreed to make the changes in how it sets pay for its chief executive officer and other named executives.

Pay for corporate executives at major ...