Read and weep

The chief executive of Anheuser-Busch, August Busch IV is to receive a payoff and contract worth USD 125 million on completion of the deal with InBev.

Anheuser-Busch employees who may be made redundant so that the deal’s synergies materialise that InBev has in mind, will be glad to read that their Chief Executive Mr Busch will be given a soft landing.

Although he fought InBev’s takeover of Anheuser-Busch with all his might, InBev has decided to offer him a consultancy contract with the enlarged company worth USD 17.6 million. Mr Busch will get a one-off consultancy fee of USD 10.4 million and USD 120,000 a month until the end of 2013, it was reported.

The payments will come on top of the USD 88.6 million in share awards Mr Busch is entitled to, as well as a bonus for 2008 of USD 6 million and a USD 13.3 million fee related to a change of control clause.

Anheuser’s chief executive, who is still negotiating the contract, will also be given an office in the brewer’s St Louis headquarters, his own staff and a position on the combined company’s board.