BWG Foods Senior Executives Reportedly Due To Share €41.5m Payout
BWG’s chief executive Leo Crawford, finance director John O’Donnell and property director John Clohisey are reportedly due to share a cash payout of in the region of €41.5 million, in the foreseeable future from its majority stakeholder.
It is as part of an estimated €81 million deal by The Spar Group (TSG) to sell down their 20% remaining stake in the group, reports the Irish Times.
South Africa based TSG acquired 80% of the wholesaler and retail group in 2014.
Details of the payments are believed to be contained in the stock market results yesterday for Johannesburg-listed TSG.
According to the Irish Times, BWG's three senior executives are expected to receive the payment in December or January.
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