Wm Wrigley’s chairman, William Wrigley, will receive a cash payout in excess of US$55m following confectionery giant Mars’ acquisition of the group.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
At the end of April Mars announced that it had struck a deal to buy Wrigley for US$23bn. The chewing gum maker will continue to operate as an independent company and both its chairman, William Wrigley, and CEO, William Perez, will remain with the company.
According to a regulatory filing, William Wrigley will receive: $32.5m for stock options held, $17.8m for long-term grants, $572,000 in restricted shares and a bonus of $4.8m if he remains with the company through completion of the deal.
If William Wrigley’s employment is terminated within two years of closing he will be eligible for a severance payment of $22.18m.
Meanwhile, upon closing Perez will receive approximately $36.5m for stock options, long-term grants and a retention bonus. If his employment is terminated within two years he too will be eligible for a considerable severance payment – $25.3m.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
