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>It would be somewhat bearable if it would at least have consequences for the CEO, it's fucking wild that he gets to walk away from this with $57 million. Do th
by everdrive 5y ago
>It would be somewhat bearable if it would at least have consequences for the CEO, it's fucking wild that he gets to walk away from this with $57 million. Do these people have no shame at all? (no)
It's clear to me that I don't really understand companies. Why give him such a huge exit package? Why would any executive get an exit package? What is the benefit to paying them so much money to leave? Why do most companies do this?
- ncmncm 5y agoBoards think, or pretend to think, they need to promise such payments at hiring time in order to attract the candidates they (think they) want. Board members tend to be, have been, or be related to CEOs. So, it is largely a matter of class solidarity. A norm of "CEO always wins" is good for them in general, even if it occasionally makes bad publicity. Bad publicity doesn't really cost them anything, anyway. Boards and corporate officers ganging up against the interests of the stockholders is an old story. Nobody seems to have a solution, or to know how to put one into practice. Typically there is no one but a Board in any position to act on any idea.