Skip to comments.Thanks-for-Nothing CEOs: 11 Short-Term Corporate Leaders Who Made Millions (With nothing to show)
Posted on 09/03/2012 1:51:43 PM PDT by SeekAndFind
For many, being a millionaire is a lofty goal that can take a lifetime to achieve, and only then through a lot of hard work and great luck in managing risk. However, things are a bit different when youre a CEO. It isnt uncommon at all for CEOs to be proven completely incompetent at their jobs and yet still be allowed to walk away with millions in severance pay, even if they spend minimal time on the job. The following is a list of CEOs that worked the shortest amount of time in their position, but still made millions because of contractual obligations. Proceed with caution: This list could inspire a fiery rage in the most mild-mannered of investors, or else make you want to occupy Wall Street.
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whos money is it?the companies? why can’t they spend their money however they see fit? unless we want the government to tell private organizations how to manage their money. if the payouts are outrageous, it’s up to the owners (stockholders) to take appropriate action, not government
There’s con men in legit and illegitimate businesses, including CEO’s. Part of the problem resides with the Board of Directors who can’t seem to tie performance well enough with compensation. They pursue a policy of thinking the only way to attract the “executive timber”, or qualified CEO’s is with all kinds of percs, options, golden parachutes, etc. Meanwhile, the shareholders get screwed. There’s no simple answer however a careful screening of the CEO candidates, along with performance tied compensation seems the best way to make it work, the other question is, will it still attract the best qualified, or a lesser qualified individual? Remember companies are in competition with each other, especially for CEO’s so called “talent”.
I’m not clicking through a slideshow.
It is the stock holders who are losing, so it is their problem and they must not mind too much or they would be raising hell about it, or withdrawing their money.
Pierre Karl Péladeau, killed off what was at one time the worlds largest commercial printers. During times the company was hemorrhaging money, thanks directly to his utter incompetence, he was pulling down $6 Million/year in bonuses.
If not for the fact his father had built the company and PK Jr. inherited upon his father’s death this POS could not run a hot dog stand.
There is a problem with Wall St and the equivalent in other countries and the board of directors taking care of each other to the complete detriment of the company, employees, and investors.
Don't give them any ideas.
It’s Interlocking Directorates that are killing business in this country.
Stonecipher certainly deserves his place on that list, and in other places. Jim McNernery seems to be doing a good job at BA, despite having done his best to ruin 3M. Bob Nardelli, the other spawn of GE who didn’t get Jeff Immelts job, went on to ruin Home Depot just as Joe Galli did the same to Newell Rubbermaid. Inmates, it seems, have a long history of running the asylum, and being paid very well for it.
Where is Obama on the list? He walked in a Community Organizaer, and now he’s buying a $35 MILIION dollar house in Hawaii. That’s even better return than Hillary’s Cow Future Fortune.
and political inbreeding is killing our political system.