Heineken has released details of bonus payments for its board of directors. The Dutch brewer announced the bonuses on April 7. Thony Ruys, Heineken’s CEO, will receive a bonus of around EUR 890,000 (US$1.07m) in 2004, based on the company’s results for 2001, 2002 and 2003.
The remaining directors are set to receive bonuses of around EUR 530,000 each, with the exception of Rene Hooft Graafland, who joined the board later. Graafland will consequently receive EUR 345,000. The bonus payments coincide with a share split of one bonus share per existing four shares announced in February. Heineken traditionally makes a share split every three years. Bonuses for directors were last paid in 2001, when a split was also announced.
In 2003, the brewer’s board of directors received a fixed remuneration and annual royalties. This amounted to EUR 543,000 plus EUR 455,000 in royalties for the CEO, and EUR 358,000 plus EUR 277,000 in royalties for the other board members.
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