Shareholders attack Coke's Olympic sponsorship at annual meeting

by Staff, Brand Republic 17-Apr-08, 09:10

NEW YORK - Shareholders attacked Coca-Cola's sponsorship of the Olympics at its annual meeting yesterday while Free Tibet protesters called for the company to use its power to improve human rights in China.

Two of the shareholders demanded that Coke tell the International Olympic Committee to change the route so that it will not pass through Tibet because it would cause loss of life.

Neville Isdell, Coca-Cola CEO, repeatedly had to call for order at the meeting due to a series of outbursts and disruptions.

Shareholders were told that they would be limited to two minutes for questions, but most of them ignored the tone signalling that their time was up and continued to attack the company on its sponsorship of both the torch relay and its overall involvement with the Olympic Games in Beijing.

Isdell responded by saying that the IOC does not have control over the torch route and that he didn't think stopping the torch would be the right thing to do in the long run.

While this was happening inside, protesters outside the building were chanting and waving picket signs.

Reporters Without Borders, the French-based media organisation, urged Coca-Cola to sign a "declaration of responsibility" stating that the Olympic sponsors favour freedom in China and create a fund to support political prisoners.

In response to Amnesty International's call for the company to help improve human rights in China, Isdell said simply that Coca-Cola was not a political organisation.

So far none of the Olympic sponsors have backed down in their support for the games. Last week several sponsors, including Visa International, McDonald's, Johnson & Johnson and Anheuser-Busch, reaffirmed their support of the Olympics and said that their marketing plans had not changed because of the protests.