Investors voted against a resolution that would require Coca-Cola to issue a report disclosing how it is responding to concerns about the safety of Bisphenol-A, and outlining a plan to develop alternatives to the chemical. It appears in linings inside aluminum cans and has been used for decades, but critics say it mimics estrogen and is unsafe.
According to Coca-Cola, 74 percent of voting shareholders voted against the proposal. The 26 percent that voted ‘yes' was up from 22 percent for a nearly identical proposal last year.
"We have provided as much information as we can without divulging propriety information, competitive information," chief executive Muhtar Kent told an audience of more than 1,000. "If we had any sliver of doubt about the safety of our packaging, we would not continue to use (BPA)."
Kent said the company was working with its suppliers to investigate possible alternatives.
About the Author
