Category: Uncategorized

$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.…

Lord Black Released From Prison

Conrad Black is back in Canada this month after being released from U.S. prison where he served 42 months for massive fraud. At one point Black ran a media empire considered the third largest in the world, including publications like…

Swiss Bank CEO Gets Alpine Pay Cut

One of the biggest drops in pay for any major CEO reflected Credit Suisse’s bad fortunes. Brady Dougan lost 69% in income compared to 2010, when he took home only 5.8 million Swiss francs ($6.3 million) last year. The Swiss…

$26 Million Phony Degree

The story keeps getting stranger. After a high profile turnover in the leadership of troubled internet pioneer Yahoo!, former PayPal president Scott Thompson assumed the reins in January. The company’s board had given up on Carol Bartz’s efforts to turn…

Dodd-Frank Moderating CEO Pay

A study by the consulting firm Hay Group about the pay rate of CEOs says income more closely matches performance than in recent years. In conjunction with The Wall Street Journal which ran major stories on the cover of today’s edition and elsewhere,…

$143.5 Million Retirement

With a pension ranking in the top 10% of public companies, Bill Weldon recently left pharmaceutical leader Johnson & Johnson with $143.5 million. $48.4 million is accumulated pension benefits added to $95.1 million more in deferred compensation. “Imagine if $143.5…

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…

$40 Million Home Sets Record

Venerable American retailer Sears has hit tough times, closing 100 to 120 stores to save costs. The hedge fund manager who took over the company, chairman Edward Lampert,  is selling 1,200 stores to help ease the cash strain. In other…

Failed Deal Drops CEO to $22 Million

After AT&T was rebuffed by U.S. anti-trust regulators in their effort to purchase T-Mobile for $39 billion, the telecom company had to pay a $4.2 billion opt-out clause. This failed deal resulted in a $2 million cut to CEO Randall…

CEO Loses His Nuts

Diamond Foods, the snack food giant which built its empire on almonds and other nuts, canned their CEO and CFO after “an internal audit that revealed improper accounting of payments to walnut growers, resulting in the public company having to…