Augustus Busch IV, CEO of Anheuser-Busch (BUD), was vehemently opposed to selling his family heirloom and American icon, BUD, to foreign rival InBev. He had politicians, the American public and patriotism on his side. Too bad he didn’t have the shareholders. Once InBev raised its bid for BUD from $65/share to $70/share, it was a done deal.
However, “The Fourth” could have fought longer and harder, dragged InBev through the mud and made the Belgian brewer go hostile. To his credit, he didn’t. Now Busch is getting his reward: a $10+ million consulting contract.
August Busch IV, chief executive of Anheuser-Busch Cos. Inc. will be paid nearly $10.4 million after the brewer is sold to InBev SA and $120,000 a month to consult for the new company through the end of 2013….
Busch, a member of the St. Louis-based brewer’s founding family, will also be eligible for an additional payment of $13.3 million on various change-in-control payments and benefits, the filing said.
This wouldn’t be a bribe by any chance? Of course not: Just more evidence that it doesn’t suck to be a CEO.
Anheuser-Busch (BUD) Agrees to $70/Share Deal and Terrible Name (BUD)
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Anheuser-Busch (BUD): Incompetent Busch Family Desperately Trying To Stop InBev Deal (BUD)
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