The CEO of the US subsidiary of newly merged Molson Coors Brewing Co is to be paid an initial base salary of US$625,000 a year, the company revealed yesterday in a regulatory filing.
 
Frits van Paasschen was named president and chief executive of Coors Brewing earlier this week, after joining the group from Nike.

van Paasschen also received a signing bonus in the form of a US$100,000 contribution under a deferred pay plan and options to acquire 75,000 Class B shares of Molson Coors. The options vest over three years. He is also eligible for bonuses. These include a yearly target bonus of 75% of annual pay, plus up to US$937,500 total over three years in bonuses based on volume growth.