Belfast Telegraph

Former brewery CEO pockets £14m in share scheme payout

By James Thompson

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.

Belfast Telegraph