Kraft and Heinz confirmed Wednesday that they would join forces to form the third-largest food and beverage company in the US. The $40 billion deal between Kraft and Heinz is just the latest in a series of big-ticket consolidations among America's biggest food brands.
$56 million golden parachute? That's what awaits Heinz CEO William Johnson if he is fired by the company's new owners. In addition to the $56 million golden parachute, Johnson is entitled to a payout of $99.7 million in vested stock and $57 million in deferred compensation benefits that he accrued over his 30-year career with Heinz.