South African businessman and current SABMiller CEO Alan Clark stands to gain R1.2 billion when the company’s merger with global brewery ABInBev is approved.<\/p>\n
When the merger is completed Clark will be able to cash out his shares and share options in the company which he has amassed over 26 years.<\/p>\n
This amounts to\u00a0\u00a333 million from his long-term shares, with an additional\u00a0\u00a322 million from incentive scheme options as well as severance pay. At current exchange rates, this equates to R1.2 billion.<\/p>\n
The ABInBev-SABMiller merger is close to being completed. The deal has been cleared in China and the US, and is sitting with the Competition Tribunal in South Africa.<\/p>\n
The South African Competition Commission has recommended that the deal be approved, with conditions.<\/p>\n
The details of Clark’s share options is contained in the SABMiller annual report<\/a>: as at 10 June 2016, he has just under 342,000 shares in the company, with 1.16 million share options available. Clark earned\u00a056,185 shares in the company in 2016.<\/p>\n In the five years ended March 2016, SABMiller\u2019s share price increased by 92%.<\/p>\n For the 2016 financial year, Clark’s total pay was down 17% to\u00a0\u00a35.87 million (R128 million) from\u00a0\u00a37.07 million (R154 million) in 2016. Fixed pay, however, was up to\u00a0\u00a31.76 million (R38 million) from\u00a0\u00a31.53 million (R33 million) the year prior.<\/p>\n Clark is one of the highest paid CEOs in South Africa, largely thanks to his earnings being paid in foreign currency.<\/p>\n Other high-paid executives include the likes of\u00a0Old Mutual CEO\u00a0Bruce Hemphill who earned R104 million in the latest financial year reporting, and Richemont’s co-chief executives who shared more than R300 million in 2016.<\/p>\n How much money the \u201caverage Joe\u201d CEO earns in South Africa<\/a><\/strong><\/p>\n This South African company just paid its CEOs R300 million<\/a><\/strong><\/p>\n These are the cars you can afford with your salary in South Africa<\/a><\/strong><\/p>\nMore on salaries<\/h3>\n