The boss of FTSE 100 payments giant Worldpay is in line for a bumper £9m salary in return for staying on after its takeover by American rival Vantiv.
Philip Jansen, 50, is set to receive a pay and bonus package worth more than $12m (£9.2m) as co-chief executive, alongside Vantiv boss Charles Drucker. The acquisition is expected to be agreed this week.
Sources said the American company was considering moving the Worldpay boss across the Atlantic after the merger, despite the enlarged company having its headquarters in London.
The pay package is yet another bonanza for Jansen, who has cashed in on more than £32m of shares since Worldpay’s market debut two years ago.
The payments boss has a remaining holding worth roughly £40m, as well as a personal stake in Visa Europe valued at about £10m, sources said. He is not thought to be offloading shares as part of the takeover.
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Vantiv is offering a mixture of cash and shares. Cost savings that can be created through the deal are expected to be announced this week.
The combined company, which will carry the Worldpay name, will have a value of more than $20bn, dwarfing its $14.9bn rival Global Payments.
Some investors have raised concerns about the Anglo-American deal, however. Investors unable to take stock in New York-listed companies, including some funds held by Old Mutual and BlackRock, have objected to the takeover.
Also, the Investor Forum has voiced its dissatisfaction with the structure of the takeover.
Worldpay will reveal plans for a secondary listing in London to keep investors happy, sources said.