It pays to be a Busch
In a regulatory filing submitted to the Securities and Exchange Commission in March, Anheuser-Busch Cos. Inc., the world’s number 1 brewer, announced that it cut its chairman’s salary and bonus when he left the chief executive officer post last year, and rewarded its new chief executive with a pay rise. Chairman August A. Busch III, 65, was paid a salary of US$900,000 in 2002, which included a new salary level after handing over the CEO position to Patrick Stokes, 60, in July 2002. Busch’s salary was almost US$1.2 million the year before and his bonus dropped to US$2.7 million in 2002 from US$3.3 million the year before. In the filing Anheuser-Busch reported that August Busch III also received options for 1 million shares, down from options for more than 1.08 million shares he got in 2001.
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