Category: Severance

CEO Snags $44 Million for 20-Minute Tenure

A boardroom coup last week resulted in outrage, contoversy and a wealthy loser. When the merger between Duke Energy and Progress Energy closed to form an electric utility powerhouse, Progress Energy chief executive Bill Johnson took over as CEO of the…

$65 Million After Cutting 7,000 Jobs

June ushered in a new CEO for AstraZeneca, the U.K.-based global biopharmaceutical company which ousted David Brennan for years of poor results. “Ironically, just a month ago, Brennan received an 11 percent pay raise” from the same board of directors.…

Did Affair Derail Stryker CEO?

What was universally described as “abrupt,” Stephen P. MacMillan resigned as CEO of Stryker Corp. weeks ago. The Kalamazoo, Mich. company manufactures medical technology such as hip and knee replacement parts and orthopedic tools. MacMillan had been well-regarded as he…

French CEO Says Company Spied on Her

French nuclear engineering company Areva launched an internal investigation into a $2.5 billion purchase of a Canadian uranium-mining company called UraMin in 2007. The investigation is said to have been initiated by mangers in the company behind the back of…

New York Times CEO Takes Millions To Go

Dec. 16, 2011 – In a surprise move, Janet Robinson, the CEO of the venerable New York Times Co. resigned. As she left, the company gave her a $4.5 million consulting agreement for one year, apparently intended as a severance…