Former brewery CEO pockets £14m in share scheme payout
Graham Mackay, the former chief executive of SABMiller, pocketed total pay of nearly £14m last year after a lucrative share scheme paid up.
The brewer of the Peroni and Pilsner Urquell lagers announced in April that Mackay has a brain tumour and in the last few days repeated their assertion that it is still too early to say when he will return as non-executive chairman.
Mackay took home a total package of £13.9m for the year to March, compared with £5.9m a year ago.
The bulk of this increase came from the £7.7m he received after a long-term incentive plan – bumped up by the strong rise in its share price – vested.
SABMiller's shares are up by 9% so far this year and have rocketed since Mackay floated the brewer in London in 1999.
Someone who had invested £100 in SABMiller five years ago would now have £354 in their pocket, as opposed to the £136 based on the FTSE100 average.
Mackay's diagnosis forced the company to bring forward by three months the appointment of Alan Clark, SABMiller's chief operating officer, as chief executive.