ST. LOUIS Anheuser-Busch and InBev have said that A-B chief executive officer, August Busch IV, will receive about $10.4 million and $120,000 a month after the completion of sale of A-B to InBev for his services as consultant. The arrangement will last through 2013, the companies said Friday in a statement filed at the Securities and Exchange Commission.
Details of Busch’s contract are still being worked out, the companies said. And Busch, may also receive an added $13.3 million for other benefits.
Last month InBev purchased American beer giant A-B for $52 billion. Together, the companies will form Anheuser-Busch-InBev, maintaining a North American base in St. Louis. Additionally, InBev has promised to keep A-B’s 12 U.S. breweries in business.
Busch’s duties with the new company will include planning new products and business opportunities, meeting with retailers, wholesalers and advertisers, and reviewing marketing projects. Reports said that he will remain in St. Louis.