They did originally. I think even now most big CEO's don't have a really huge golden parachute. And at a certain point, it's just differed compensation. Instead

They did originally. I think even now most big CEO's don't have a really huge golden parachute. And at a certain point, it's just differed compensation. Instead of 2 million a year and zero parachute, they get 1.75 million a year and a million dollar chute. There is also another form of golden parachute, which the person is getting paid for getting on a sinking ship. Otherwise nobody is going to become the CEO of a failing company. They are basically getting paid for the hit to their reputation.