SAB’s annual report published yesterday shows that his pay package, which includes base salary, bonuses and benefits, but excludes stock options, increased five per cent from last year.
This includes a short term bonus of £1.69m, a pension payment of £373,400 and £111,000 of extra benefits.
Mackay, who has run the company for the last 13 years, will also see his base salary increase by four per cent over the next year to £1.295m, which SAB said “was in line with the increase for other UK-based employees”.
The London-listed South African group increased earnings by 12 per cent to $5.63bn last year, boosted by emerging markets.
In April the brewer announced a shake-up of its board, with Mackay to become chairman in July, controversially combining both this role along with being chief executive for a year. He will then become chairman in 2013.