SABMiller’s Graham Mackay receives GBP 14 million pay cheque

The convalescing former boss of SABMiller, Graham Mackay, is one of the best-paid bosses in Britain, UK media reported at the end of June 2013.

According to the company’s annual report, Mr Mackay’s total remuneration reached GBP 13.9 million (USD 21 million) and included shares that vested under long-term incentive plans. His total remuneration the previous year was GBP 5.9 million (USD 8.9 million).

Mr Mackay, who served as CEO for 13 years, was SABMiller’s Executive Chairman until April, when the company announced that he had undergone surgery for a brain tumour. Alan Clark, SABMiller’s former Chief Operating Officer, took over from him.

Last year Mr Mackay was paid GBP 2.8 million in basic salary, benefits and annual cash bonus, less than the GBP 3 million he was awarded for the previous 12 months.

Mr Mackay will remain SABMiller’s Non-Executive Chairman and is on a medical leave of absence while he undergoes treatment. John Manser is the acting Chairman in the meantime.

“The board will keep the position under review as Mr Mackay’s treatment progresses‚ and an appropriate announcement about the future will be made as soon as any definitive decisions have been taken‚” the company had announced previously.