- Oct 9, 1999
- 39,230
- 701
- 126
Click me!
This isn't to argue whether CEO pay is too high, but to argue why in the name of hell do companies give outrageous amounts of money, including huge bonuses, to someone who fucks the company up with their leadership. Looks to me like the good ole boy network (board of directors) and one final favor. Disgusting!!!
If I owned this stock (who knows, I might in one of my mutual funds), I would be going through the roof on this one. On top of that, I imagine the next CEO will have to slash more jobs to make up for part of this...and I'm sure that those who have their jobs slashed will get peanuts for severance......again, disgusting.
This isn't to argue whether CEO pay is too high, but to argue why in the name of hell do companies give outrageous amounts of money, including huge bonuses, to someone who fucks the company up with their leadership. Looks to me like the good ole boy network (board of directors) and one final favor. Disgusting!!!
If I owned this stock (who knows, I might in one of my mutual funds), I would be going through the roof on this one. On top of that, I imagine the next CEO will have to slash more jobs to make up for part of this...and I'm sure that those who have their jobs slashed will get peanuts for severance......again, disgusting.
Reuters
AIG ex-CEO severance seen as high as $68 mln: analyst
Tuesday June 17, 6:09 pm ET
NEW YORK (Reuters) - American International Group Inc's (NYSE:AIG - News) former chief executive, Martin Sullivan, who stepped down on Sunday amid large subprime losses, could receive up to $68 million in severance pay and benefits, according to an estimate compiled by an outside research firm.
ADVERTISEMENT
Corporate governance firm The Corporate Library on Tuesday said Sullivan -- who was replaced by Chairman Robert Willumstad as CEO on Sunday -- could receive up to $2.5 million in salary, $26.6 million in bonus payments, $14 million from a defined contribution plan, $21.9 million worth of stock awards, $3.3 million in pension benefits and $32,316 in medical and life insurance coverage, according to a report by research analyst Alexandra Higgins.