Graham Mackay, the former chief executive of SABMiller, pocketed total pay of nearly £14 million 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 it repeated today that it is still too early to say when he will return as non-executive chairman.
Mackay took home a total package of £13.9 million for the year to March, compared with £5.9 million a year ago. The bulk of this increase came from the £7.7 million 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 anointment of Alan Clark, SABMiller’s chief operating officer, as chief executive.
