Daley Joins Coca-Cola's Board Of Directors

In an unexpected new career move, former Chicago Mayor Richard M. Daley announced Thursday that he had been appointed to the board of directors of Coca-Cola Co., and would serve on the company's Committee on Directors and Corporate Governance.

Daley, 69, retired from his position in May after 22 years at the city's helm. He currently serves as counsel at Katten Muchin Rosenmann LLP, a Chicago law firm, and as the managing principal of Tur Partners LLC, an investment and advisory firm.

"Mr. Daley brings significant public policy expertise and experience in creating sustainable growth opportunities for businesses and communities to our company," Coca-Cola Chairman and CEO Muhtar Kent said in a news release. "His experience and insights will be invaluable as we continue to work to grow our business and invest in the fabric of the communities we serve."

In his new position as a non-employee director, which Coca-Cola said would be effective immediately, Daley will earn about $175,000 a year in compensation, the Chicago Tribune reports. About $125,000 will be in deferred stock units and the remaining $50,000 will be paid out in cash.

The company also announced plans to develop plant-based plastic bottles and packaging Thursday, according to Bloomberg Businessweek.

Comments

[47th]

10:39 PM on 12/17/2011

This guy always looked at "Public Service" as a way to line his pockets.

[jbad]

02:27 PM on 12/17/2011

Wow, the good luck just keeps rolling in for our x-mayor. Now on the board of Coke, $175,000. All these jobs for this idiot, I'll bet Blago isn't the only one who has to drink to fall asleep.

[TRACYBURTON]

08:20 AM on 12/17/2011

nice gig. happy he can stay busy after the loss of his wife

[60699]

11:01 AM on 12/16/2011

Let's see, Cubs, Sox, Bears, McCormick Place, O'hare, Chicago park District,............ all for only $175,000 a year. Nice deal Coke!!!!!!!!!