Or do too many CEOs just engineer deals that fatten their own wallets?
Capellas donates new wing to Golden Parachute Museum
When he left HP in 2002, he received $14.4 million in severance, plus a $1.9 million incentive payment and $9.6 million to cover his taxes on the payments. When he took over MCI, he received a $2 million signing bonus. Now comes word that Capellas is entitled to a $39.2 million payout when leaves MCI after its pending $8.4 billion merger with Verizon. According to an MCI proxy statement filed Thursday, Capellas will receive $11.3 million for three years’ worth of salary and bonus; $18.5 million from a previously disclosed restricted stock grant; and $9.4 million in payments to cover the taxes on his exit package.
I wonder how many of his millions Capellas is donating to the victims of Katrina?