13 April, 2007

USA: Coors CEO Compensation valued at $5.4 mil in 2006

Molson Coors Brewing Co. CEO Leo Kiely earned compensation valued at $5.4 million last year, according to a filing Wednesday with the Securities and Exchange Commission, Associated Press reported April 12.

His compensation included a $945,000 base salary, a $1.6 million bonus, $2.6 million of option and stock awards, and $172,488 of other compensation, including life-insurance benefits, financial planning, long-term disability insurance and sports tickets, the SEC filing said.

Directors voted this year to raise Kiely's base salary to $1 million.

Molson Coors directors set out to keep Kiely's in the middle of what peers are earning at companies like Anheuser-Busch, Campbell Soup, General Mills, Hershey and Kellog, the SEC filing said.

Anheuser-Busch Cos. Inc. CEO August Busch IV received compensation valued at $12.8 million during 2006 for leading the nation's largest brewer, according to an SEC filing.

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