21 CEOs With $100 Million Golden Parachutes

<a href="http://www.flickr.com/photos/spoiltcat/2710233925/in/photostream/">Ryan Woolies</a>/Flickr

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


For some CEOs, the easiest way to get rich is to quit.

Increasingly, corporations offer their chief executives fantastically generous severance packages—retirement bonuses, extended stock options, and pensions that can add up to $100 million or more. Call ’em platinum parachutes. These deals are supposed to benefit shareholders by encouraging CEOs to take a long-term view of corporate profits, but some compensation experts have their doubts. “Too many golden parachutes and too many retirement packages are of a size that clearly seems only in the interest of the departing executive,” says a new report by GMI, a corporate governance consultancy.

By way of example, the report singles out 21 CEOs whose severance packages are worth more than the median US earner would make in 49 lifetimes. In the case of GE’s John Welch Jr., the figure would be 203 lifetimes. But you could still argue that the most outrageous example is Viacom’s Thomas Freston, who put in just one year of work for his $100-million-plus sendoff.

GMI, "Largest Severance Packages of the Millennium"GMI, “Largest Severance Packages of the Millennium”

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. It's our first time asking for an outpouring of support since screams of FAKE NEWS and so much of what Trump stood for made everything we do so visceral. Like most newsrooms, we face incredibly hard budget realities, and it's unnerving needing to raise big money when traffic is down.

So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate