Back
High-Profile CEO Exit Packages
William McGuire
Severance package: $1.2 billion
Company: United Health Group (UNH)
Years as CEO: 1991- 2006
Stock price change during tenure: +5,378%
After leaving his CEO post, McGuire was forced to forfeit more than $400 million worth of stock options and retirement benefits to settle civil and SEC suits related to the company’s options practices. As part of his agreement with the SEC, he agreed not to serve as an officer or director of a public company for 10 years.
Lee Raymond
Severance package: $392.5 million
Company: ExxonMobil (XOM)
Years as CEO: 1999 - 2005
Stock price change during tenure: +63%
Raymond served as CEO of Exxon Corporation from 1993 until its merger with Mobil Oil in 1999. Raymond joined Exxon in 1963 as a production research engineer and worked his way up the ladder. He retired in 2005 and was succeeded by current CEO Rex Tillerson.
Robert Nardelli
Severance package: $212 million
Company: Home Depot (HD)
Years as CEO: 2000 – 2007
Stock price change during tenure: -4%
Nardelli left his post after a year of heavy criticism for everything from his pay package to the underperforming retailer’s corporate governance.
Henry McKinnell
Severance package: $195.8 million
Company: Pfizer (PFE)
Years as CEO: 2001 – 2006
Stock price change during tenure: -36%
In the months leading up to his resignation, Pfizer’s Board of Directors became increasingly concerned with McKinnell’s management style and struggles to bring new drugs to the market, according to the NY Times.
Stanley O'Neal
Severance package: $161.5 million
Company: Merrill Lynch
Years as CEO: 2002 - 2007
Stock price change during tenure: +51%
O'Neal is widely blamed for steering the firm into subprime loans , which resulted in $8 billion in losses in the summer of 2007. O'Neal was replaced by John Thain.
Michael Ovitz
Severance package: $81.6 million
Company: Walt Disney (DIS)
Years as CEO: 1995 – 1997
Stock price change during tenure: +23%
Ovitz served as Disney’s president for just 14 months before he left the company and got his hefty exit package. Investors sued Disney over the eye-popping payout, but Disney won and Ovitz received the full amount.
Charles Prince
Severance package: $41.9 million
Company: Citigroup (C)
Years as CEO: 2003 – 2007
Stock price change during tenure: -6%
Prince retired after losses related to CDO and MBS investments caused multi-billion dollar write-downs and losses in the third quarter of 2007.
Mark Hurd
Severance package: $33.1 million
Company: Hewlett-Packard (HPQ)
Years as CEO: 2005 – 2010
Stock price change during tenure: +123%
Hurd stepped down after HP said he had falsified expense reports to conceal a relationship with a female contractor, who accused him of sexual harassment.
Rick Wagoner
Severance package: $10.8 million
Company: General Motors (GM)
Years as CEO: 2000 - 2009
Stock price change during tenure: -47%
Wagoner was asked to step down as CEO by the Obama Administration in March amid the government's bailout effort. Several months later the company filed for chapter 11 bankruptcy protection, a move which Wagoner adamantly argued against throughout his final months on the job.
Richard Syron
Severance package: $3.8 million from US Gov./Tax Payer backed
Company: Freddie Mac (FRE)
Years as CEO: 2003-2008
Stock price change during tenure: -98%
Syron was at the helm of government-backed mortgage giant Freddie Mac during the most dramatic housing bubble burst in US history. Insiders say the former CEO rejected internal warnings that could have protected the company from some of the damage.
Source CNBC
www.cnbc.com/id/38643836?slide=1
10 Highest Paid CEOs (2009)
skorcareer.com.my/blog/10-highest-paid-ceos-2009/2009/10/05/
1. Lawrence Ellison (Oracle)
Total pay: $560 million
For the past few years, Lawrence (or Larry as he is more popularly known) Ellison has been spearheading aggressive takeover campaigns in an attempt to eat up competitions. He voluntarily offered a massive pay cut for himself but that did not stop him to steer Oracle, the company he founded, to record increase in both revenues and profits last year. As of September 2009, Ellison is ranked as the third richest man in the world with an estimated net worth of $27 billion.
2. Ray Irani (Occidental Petroleum)
Total pay: $220 million
Ray Irani, 74, is presently the chairman, president and CEO of Occidental Petroleum, a global oil and gas exploration company with major presence in the US, Africa, Middle East and Southern America. Ray has served Occidental Petroleum for well over 2 decades, climbing the corporate ladder from a lowly executive to holding the powerful portfolio today. He is of a mid-east origin.
3. John B Hess (Hess Corporation)
Total pay: $154 million
John Hess was a product of Harvard University, one of the best schools in the world. He was made the CEO of Hess Corporation in 1995 and remains at the position since. In 2008, Hess was paid a total amount of over $150 million, made up of his basic salary, cash bonus, stocks, options and other associated compensation. Hess Corporation (known before as Amerada Hess Corporation) is an integrated oil & chemical company with operation in various states in America including Alabama, New York, Delaware, Florida, Georgia, Massachusetts and so on.
4. Michael Watford (Ultra Petroleum)
Total pay: $116 million
Watford graduated from the University of Florida with a BBA in 1975 and obtained his MBA from the University of New Orleans a few years later. He served Ultra Petroleum for 10 years before being appointed as the company’s CEO. Ultra Petroleum is an independent company with major business in natural gas exploration, development and production with listing in the New York Stock Exchange (NYSE).
5. Mark G Papa (EOG Resources)
Total pay: $90 million
His name sounds like someone who you would imagine running a feared underworld gang or else owning a restaurant, but Mark G Papa is a respected name in the business and corporate world. An alumni of the University of Houston MBA, Mark has been serving EOG Resources as the CEO for more than a decade now and one does not have to take a second guess why he is highly compensated.
6. William Berkley (Berkley Corporation)
Total pay: $88 million
William Berkley founded Berkley Corporation more than 40 years ago and is arguably the longest serving company chief on the list. Berkley Corporation is an American based insurance company with specializations in the property casualty, specialty insurance, reinsurance, alternative markets and international ventures. Berkley is the only insurance company who’s boss made it to the top 10 highest paid CEOs.
7. Matthew Rose (Burlington Northern)
Total pay: $69 million
Matthew has been with Burlington Northern, a company primarily engaged in transportation and logistics business for 16 years, holding the CEO post for the last half (8 years). He holds a degree in marketing and logistics from the University of Missouri. He didn’t get a lot of bonus last year but much of his total pay came from his salary, stock awards, options, deferred earnings and incentive plan compensation.
8. Paul Evanson (Allegheny Energy)
Total pay: $67 million
Allegheny Energy is a Pittsburgh-based utility company serving various communities including Western Maryland, Pennsylvania, Northern West Virginia and Northwest Virginia. It is the largest energy supplier in the region, providing utility and power to more than 1.5 million customers, and employing more than 8,000 staff. Paul Evanson has been the company’s CEO for 6 years.
9. Hugh Grant (Monsanto)
Total pay: $65 million
No, this is not the popular British actor (Notting Hill, 2 Weeks Notice, Mickey Blue Eyes), but this Hugh Grant is a real CEO with a real executive job. Monsanto is the world leader in agricultural biotechnology, and is widely credited with its successful development and marketing of genetically engineered seed and bovine growth hormone. Earlier this year, Hugh was also named among the 30 most respected CEOs by Barron, a prominent financial publication.
10. Robert Lane (Deere & Co.)
Total pay: $61 million
Based in Moline, Illinois, Deere & Company markets agricultural products such as tractors, harvesters, planters, seeders and other wired range of products. The current CEO, Robert W Lane, has served Deere for almost 30 years, and has been at the top helm for 9 years. Robert was a graduate from University of Chicago (MBA) and Wheaton College (BBA).
Source: skorcareer.com.my/blog/10-highest-paid-ceos-2009/2009/10/05/
With inhuman & vulgar Severance & Pay packages of CEO who says America is a Democracy?
America is under siege of an elite club of quasi criminal scoundrels. Pro Zionist and Zionist are controlling the Wall Street, Hollywood, Media, big Corporations, Real Estate, US Congress and all the 50 state governments.
In 2007 the 500 CEO’s took home $6.4 billion which works out to be $12.8 million per head. In 2008 the 10 highest-paid CEOs on the AP list received packages totaling $538 million which works out to be $53.8 million per head. Chesapeake Energy CEO Aubrey McClendon topped the AP list with a total package of $112.5 million, even though his company's stock price fell nearly 60% in 2008. Motorola co-CEO Sanjay Jha was second, with $104.4 million. In 2009 the 10 highest CEO’s package totaled $1490 million which works out to be $149 million per head reflecting a jump of more than 150% over 2008. Topping the list in 2009 is Oracle CEO Lawrence Ellison Total pay of $560 million.
Public companies CEO’s with $10 mil to $560 mil pay packages still have the sanity to bankrupt companies like Bear Stern, AIG, Morgan Stanley, GM, Chrysler, BOA & Citi etc. Even if the companies are not making money still they make inhuman and vulgar pay packages. Still they got bonuses in the name of Retention Awards for 2008-9 with Tax Payers money given to them to bail out their sinking companies. Out of the sinking companies they still got severance pay of millions of dollars for driving the company stock down by almost 98% and bringing the financial melt down like CITI CEO Charles Prince and Richard Syrone CEO of US Government backed Freddie Mac.
In 2006 Wall Street bonus was $33 billion and in 2007 it was $38 billion. Total compensation at the largest securities firms grew even faster and industry profits exceed an unprecedented $55 billion in 2009, nearly three times greater than the previous all-time record by looting the common Americans.
When you look at the severance package of $1.2 billion of United Health Group CEO William McGuire and pay package of $101.96 million for 2009 for Stephen Hemsley its current CEO; you can make out why insurance premium of $4800 for a family of 4 in 2000 has gone up to $20,000 in 2010 plus with 6 times copays for doctor visits and medicines. United Health CEO Hemsley is the highest-paid CEO with six times the amount paid to the next CEO in the Star Tribune's annual survey of the Minnisota state's 100 highest-paid chief executives at publicly traded companies.
How one can justify these inhuman, criminal and vulgar pay packages of these CEO’s when the salary of the President of world’s super power America is only $400,000 per anum? Are they impying the ruling class has no or little talent tht’s why they opt for low paying jobs?
While the main street is suffering the Elite with exclusive street addresses are flourishing. It seems US government policies & Corporate America policies have become one and the same. A minority Elite Club of Scoundrels is running the country for the benefit of their members only. With the help of economy ignorant unionized quasi-criminals in US Congress posing as Republicans and Democrats; Elite Club members are devising con schemes to make the American majority poor by reducing their earnings and entitlements in real terms. To-day 17% of Americans are poor; 20 mil unemployed and 30 mil underemployed who are working but at the end of the day can not put adequate food on the table for their families.
We are a nation of great diversity and are known for eventually correcting flawed policies. If we can come out of great depression of 1929, housing crash & run away inflation of 1980’s, Tech Bust of 2000 and terrorist attack of 9/11; we will come out of this present mess in housing & securities market, rising health cost, ballooning deficit, massive political & corporate corruption. Every mess is a creation of Minority Elite Club’s greed and certainly we the people the majority can correct it and we must correct it by booting out every members of US Congress who are nothing but unionized hard core political criminals living off the crumbs thrown to them by corporate America.
We must understand what our great founding President Washington said, “Government is not reason; is not eloquent; it is force like fire, it is dangerous servant and fearful master.”
Dave Makkar
www.citizensfordemocracynj.org
CHANGING FACE OF MORALITY & ETHICS
Dad I am considering a career in Organised Crime!
Government or Private Sector?
Copyright © All Rights Reserved
By: davemakkar
Taken: August 8, 2010
Uploaded: August 8, 2010
[ View at Flickr.com ]
|
