CEO payouts: Golden parachutes
source: http://www.economist.com/node/16685706?story_id=16685706
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- ampersand
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http://www.economist.com/node/16685706?story_id=16685706
ON TUESDAY July 27th BP announced its chief executive, Tony Hayward, was stepping down after just three years in the job. He leaves with a year’s salary, £1m ($1.6m), and a pension reported to be worth £11m, accrued over 28 years of service. On the same day the company revealed a quarterly loss of £17 billion, reflecting the cost of the oil spill in the Gulf of Mexico. Mr Hayward has received criticism over his handling of the Deepwater Horizon spill. For all the opprobrium heaped on him over the last few months, Mr Hayward's payout is modest compared with those enjoyed by many similarly high-profile bosses.http://www.economist.com/node/16685706?story_id=16685706
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- groups:
- Community, Greatest Depression
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- tags:
- executive pay, BP CEO Tony Hayward
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ampersand
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And I'm sorry to see they missed my favorite, Ray Irani.
Ray is the current chairman and chief executive officer of Occidental Petroleum.
His five-year total compensation between 2001 and 2005 at OP was $127,447,000.
In 2006, he took home a total of $460 million. - 2 years ago
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ampersand
