Parmalat, Moonachie, N.J., is introducing Parmalat ice tea in two flavors: lemon and peach. Like the company's milk, it will be stored in aseptic packaging that doesn't have to be refrigerated. MgM Advertising, New York, handles point of purchase and couponing.
Several London-based newspapers over the weekend reported that some large shareholders of WPP Group are opposed to Chief Executive Martin Sorrell's proposed pay package, which they reported would result in $56.7 million over five years if specific performance targets are met. WPP disputes that figure, saying the maximum is $38.9 million if all targets are achieved. The pay package includes a basic salary, pension, bonus schemes and share options. The most controversial element is the capital investment plan, which pays out as WPP's share price rises. Two institutions that control nearly 10% of WPP's shares between them--Fleming Investment Management and Hermes--have publicly come out against the proposal. A vote will be taken June 26.