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SABMiller chief's pay for year nearly £14m SABMiller chief's pay for year nearly £14m
(3 months later)
Graham Mackay, the former chief executive of the world's second-largest brewer, SABMiller, received almost £14m in cash and shares as reward for the company's strong performance in the last year – much of it paying out weeks after he was diagnosed with a brain tumour in April. It makes the South African, 63, one of the best-paid FTSE 100 bosses last year.Graham Mackay, the former chief executive of the world's second-largest brewer, SABMiller, received almost £14m in cash and shares as reward for the company's strong performance in the last year – much of it paying out weeks after he was diagnosed with a brain tumour in April. It makes the South African, 63, one of the best-paid FTSE 100 bosses last year.
He joined South African Breweries in 1978, later becoming instrumental in transforming SAB from a sprawling conglomerate, isolated under the apartheid regime, into one of the world's most international businesses, with major operations in all corners of the globe.He joined South African Breweries in 1978, later becoming instrumental in transforming SAB from a sprawling conglomerate, isolated under the apartheid regime, into one of the world's most international businesses, with major operations in all corners of the globe.
Mackay received salary, benefits and cash bonuses of £2.82m for the year to March 31. In addition, the group's strong performance over the last five years saw a series of options and restricted shares released to the SABMiller boss. This took his total 2013 pay to £13.9m in cash and shares.Mackay received salary, benefits and cash bonuses of £2.82m for the year to March 31. In addition, the group's strong performance over the last five years saw a series of options and restricted shares released to the SABMiller boss. This took his total 2013 pay to £13.9m in cash and shares.
A year ago Mackay was elevated from chief executive to executive chairman at SABMiller when non-executive chairman Meyer Kahn retired. The move breached corporate governance practices but Mackay, one of the FTSE 100's longest-serving bosses, won investors over with a promise to appoint Alan Clark, another South African, to take over running the executive team this year.A year ago Mackay was elevated from chief executive to executive chairman at SABMiller when non-executive chairman Meyer Kahn retired. The move breached corporate governance practices but Mackay, one of the FTSE 100's longest-serving bosses, won investors over with a promise to appoint Alan Clark, another South African, to take over running the executive team this year.
In the annual report, published on Monday, Clark said: "Graham's contribution to SABMiller's success is immeasurable, and I am sure that all the group's shareholders and employees would join me in expressing our deep gratitude for everything he has done to make SABMiller the resounding success that it is today." In the annual report, published on Monday, Clark said: "Graham's contribution to SABMiller's success is immeasurable, and I am sure that all the group's shareholders and employees would join me in expressing our deep gratitude for everything he has done to make SABMiller the resounding success that it is today."
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