- Advancement at ABC
- Michael Eisner
- Eisner Makes $ Million in Stock Options - Los Angeles Times
- EISNER'S NEW PAY PLAN COULD TOP $200 MILLION
CEO exit packages are similar in concept to those mere mortals might hope to negotiate, but that's where the similarity ends. The end result is more like hitting the lottery. Sure, some of the huge payouts you read about are mostly the sum total of pensions, long-term compensation, and stock options or restricted stock awards accumulated during the CEO's employment.
But some of them are negotiated deals triggered by premature termination. In other words, they screw up and get rich. The best example of how ridiculous this can get is the story of Michael Ovitz, the Hollywood super-agent hired by Michael Eisner to be Disney's president in The problem with the agreement was the termination clause you can view it here if you have the patience to wade through Disney's proxy statement. To make a long story short, Ovitz's tenure with the company was a disaster.
That's the average.
Wait until you see some of the big ones. There is some good news, though. Many of the biggest high-tech companies shun exit packages for their executives. According to their latest proxy statements, Cisco, Google, Intel and Microsoft have no employment or termination agreements with their executive officers. And that's as it should be. After all, don't they make enough when they're actually working for it? In some cases they weren't exactly negotiated "packages," but what they walked away with when they exited the company.
These aren't necessarily the biggest, but the ones that got my attention. Disclaimer: this stuff is notoriously complex, difficult to calculate, and dependent on the value of the company's shares at the time.
Advancement at ABC
I don't vouch for the accuracy of the numbers, but they've all been widely reported as such. Also, some of the most recent ones are still being contested. And this is after he allegedly defrauded shareholders in the stock option backdating scandal that started an avalanche of CEO exits and financial restatements across corporate America. Huge number, but most of it is retirement independent and accrued over 40 years of employment and 12 years of running the company. And God knows, those were big years for the oil giant. Shareholders aren't complaining about this one.
Michael Eisner
The company's poor performance under Nardelli's six-year watch was widely publicized, but the party line was that his resignation was mutually agreed upon by Nardelli and the board. The club released a statement on 23 March that Eisner and his Tornante Company were in an exclusivity agreement.
After college in , he met his future wife, Jane Breckenridge, [4] a Unitarian of Swedish and Scottish descent. From Wikipedia, the free encyclopedia.
Eisner Makes $ Million in Stock Options - Los Angeles Times
American business executive. Jane Breckenridge. Businessman media proprietor author. Entertainment Weekly March 9, Retrieved November 8, Denison University. Retrieved August 26, Wall Street Journal. Retrieved June 6, Purdue University Press. ISBN Dies at 73; Former U. Retrieved February 20, San Jose State University. Archived from the original on December 14, Retrieved December 11, University of Rochester.
Archived from the original on November 20, New York: HarperCollins.
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September 26, The New York Times. Retrieved October 10, Hollywood Reporter. April 9, Retrieved January 6, December 1, July 27, April Harvard University Press.
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Ross Humanitarian of the Year Award Honorees Orange County Register.
EISNER'S NEW PAY PLAN COULD TOP $200 MILLION
Archived from the original on July 23, The a. The Wrap News, Inc. The Tornante Company. Michael Eisner Andy Redman.