Heinz boss entitled to US$56 million golden parachute

Heinz chief executive William Johnson is entitled to a golden parachute worth US$56 million if he’s fired by the company’s new owners.

Warren Buffet’s Berkshire Hathaway and 3G Capital announced last month they were buying the ketchup maker in the food industry’s richest acquisition ever. Pittsburgh-based Heinz, which also makes baked beans, vinegar, Classico pasta sauce and Ore-Ida potatoes, disclosed Johnson’s deal in a regulatory filing Monday.

via Business feed http://www.scmp.com/business/companies/article/1179077/heinz-boss-entitled-us56-million-golden-parachute