At least some parachutes failed to open.
Doesn’t he have some crazy deal where he gets paid some huge amount of money now anyway? I believe I was cursing that out last week.
He had all sorts of bonuses attached to his performance. One of them was that if he was able to return WB’s stock price to above $30 within 3 or 5 years, I forget, he would have received something like a 50Mn bonus.
c’mon guys, he is not the villain here , remember ken thomson, the clown that bought golden west, underperformed the bank index for like 10 years, and ran the most ineffecisient bank around (operating efficiency). this guy was trying to turn things around, never got the chance. btw, what’s wrong with paying a CEO if he can bring a place from the brink and triple the stock price in 3 years. I am all for pay-for-performance. the problem is weak BODs and paying CEOs for poor performance.
I agree and nobody here called him a villain. Just a little harmless schadenfreude.