Heinz chief could be entitled to $56m deal Heinz chief executive William Johnson will be entitled to a $56m "golden parachute" if the company's new owners fire him after they take control this year. If Mr Johnson decides to quit, he will still receive $40m, according to a regulatory filing by Heinz with the Securities and Exchange Commission on Monday. IN Food & Beverage Warren Buffett's Berkshire Hathaway and Brazilian private equity firm 3G Capital announced last month that they would take the Pittsburgh-based company private in a $28bn deal. According to the filing, shareholders will be asked to give the go-ahead to the compensation for Mr Johnson and other senior executives. But that approval is non-binding, and if the "merger agreement is approved ... and the merger completed, the compensation will be payable regardless" of the vote's outcome. Executive compensation has come under greater scrutiny since the global financial crisis. It has been a source of anger for critics who claim it is far out of proportion with employee pay. Swiss voters at the weekend overwhelmingly backed curbs on corporate wages, while EU proposals to cap bankers" bonuses to twice their salary have stunned the City of London. The City's big banks are considering suing the EU over the move. Heinz's performance has improved since billionaire investor Nelson Peltz took a stake in the ketchup-maker in 2006 and joined its board, pushing the company to cut costs and invest in marketing. 3G Capital has a history of imposing cost cutting and greater efficiencies on the companies it owns. Mr Johnson will also receive $99.7m in vested stock and $57m in deferred compensation benefits gained over the course of his 30 years with the company. Heinz also reported in the filing that Berkshire and 3G initially offered $70 per share, before making a final offer of $72.50 per share.