This archive report was first published on 9 September 2019.
Published on September 9, 2019, East African Breweries Limited (EABL) top executives saw their bonuses triple-digit growth due to rising beer sales and profit.
According to the company's annual report, the managing director's annual pay grew by more than a fifth to cross the Sh100 million mark in the year to June.
The strong profit performance was attributed to the 11 percent growth in volumes and a 12 percent surge in sales to Sh82.53 billion, marking the first time the brewer had grown profits since 2016.
Managing Director Andrew Cowan earned a salary of Sh35.8 million in that period, representing an increase of 2.43 percent from a year earlier, with his bonus having grown 145.3 percent to Sh24.5 million.
Mr. Cowan also took home Sh55.3 million in perks, up 10.55 percent from Sh50 million a year earlier.
Finance Director Gyorgy Geiszl's pay rose 22.11 percent to Sh68 million in the period from Sh55.7 million a year earlier on back of the reward scheme.
"Bonus pay is discretionary and is paid out in line with the company's bonus scheme, which seeks to reward an employee's contribution as part of a 'winning team'," said the company.
The brewer linked its remuneration policy to the performance of the company and individual employee contribution.
