march 4, 2010 -- Anheuser-Busch InBev chief executive, management officer Carlos Brito provides a press conference to present 2009 outcomes in Zaventem. The world"s greatest brewer Anheuser-Busch InBev reported 2009 net revenues of 4.613 billion dollars, following huge disposals and also cost savings. (Marc Gysens/AFP/Getty Images) MARC GYSENS

While it went unmentioned in official discussions of 2011 revenue that to be released top top Thursday, Anheuser-Busch InBev critical year paid down enough debt to trigger substantial stock choices for a few dozen top executives in ~ the brewer, follow to data contained in their yearly report.

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The options, created in the wake of InBev"s takeover of Anheuser-Busch in late 2008, space today precious $1.57 billion in stock, divvied up amongst roughly 40 vital executives at the company. Lock were set to vest as soon as the company"s debt fell to much less than two-and-a-half-times earnings prior to interest, tax, depreciation and also amortization (EBITDA). As of Dec. 31, 2011, A-B InBev"s proportion of debt to EBITDA was 2.26, much less than half what it had actually been 3 years earlier.

That truth is worth around $182 million in share to chief executive, management Carlos Brito, who got 3.25 million share at 10.32 euros, or $13.52 at present exchange rates, in the deal. A-B InBev closed Friday in ~ $69.56 per share. Come qualify, Brito and also other recipients must stay v the firm until 2014, in ~ which allude they can sell fifty percent of the stock. The other half they have the right to sell if tho employed there in 2019.

The executives "were established as vital for a successful integration that A-B"s business, to underpin the fast deleveraging that the group, in the middle of unprecedented financial distress and a historic financial crisis," the firm said in a statement. "The vesting of the options was thus linked come a performance test pertained to the company"s deleveraging."

About 40 executives in every were forgive the options. No complete list has ever before been published, however regulatory filings that Brito is eligible, as are at the very least two former A-B chiefs who remained on after ~ the takeover.

David Peacock, A-B"s post-merger president, to be due shares currently worth approximately $40.5 million, until the stepped down last month, prior to the 2014 trigger date. It"s uncertain if Peacock received other compensation when he left. David Almeida, vice chairman of sales in phibìc America, has remained through the firm and additionally received stock alternatives worth approximately $40.5 million.

The agency has lessened its complete debt by much more than $20 billion because the end of 2008 - from $56.6 billion to $34.7 billion - and lowered that is debt-to-EBITDA proportion by an ext than half. It"s done this through sharp price cuts, including eliminating numerous jobs in St. Louis, an equity offering and also the sale of some breweries and other assets.

The alternatives have also been make considerably much more valuable through a rise in A-B InBev"s share price, which has has get an impression 189 percent since the takeover closed in Nov. 2008, compared to the 68 percent expansion of the S&P 500 index. Their true worth won"t be determined for one more two years, when they"re standard to it is in sold starting in 2014.

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Anheuser-Busch InBev chief executive officer Carlos Brito offers a press conference on march 4, 2010 to present 2009 results in Zaventem. The world"s best brewer Anheuser-Busch InBev report 2009 net earnings of 4.613 exchange rate dollars, following large disposals and also cost savings. AFP photo / MARC GYSENS - BELGIUM out - (Photo credit should read MARC GYSENS/AFP/Getty Images)