Boardroom Tails: Difficult to swallow SABMiller CEO R1bn payout
SABMiller CEO Alan Clark is a top executive. He has worked for SABMiller for 25 years, the last three of them at the very top of the organisation. But Clark is not worth £55m. There’s nothing personal about that; at a push I can think of about four CEOs across the globe and across the decades who might deserve that sort of payout. Clark is not one of them.A sum of £55m — or R1bn — is what Clark is expected to get when Anheuser-Busch InBev’s acquisition of SABMiller is completed within the next four or so months. (Assuming Brexit does not derail the deal.)No doubt in a bid to make it sound not quite so outrageous, the SABMiller remuneration committee will point out that a large chunk of the payout is because Clark has piled up 341,886 shares which were awarded to him over the years; they’ll be worth £33m when the megamerger is completed.The remaining £22m is the early exercise of share incentives as a result of the change of control at SABMiller. In addition, we’re told, Clark has wo...
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