WH Group execs receive $600M bonus
HONG KONG – Two senior executives with Smithfield Foods, Inc. parent company, WH Group Ltd. netted a combined $600 million in incentives for the Smithfield acquisition, according to Reuters
. The bonus is more than 12 percent of the price WH Group paid for Smithfield.
A public filing shows Wan Long, chairman and CEO of WH Group, received 573.1 million new ordinary shares in October, while Yang Jhijun, an executive director over investments, mergers and acquisitions, received another 245.6 million in ordinary shares.
WH Group, the world’s largest pork company, recently launched the second-largest ever initial public offering of nearly $5.3 billion.