A Short History of Golden Parachutes

Golden parachutes can’t seem to stay out of the news. Last year, Jeff Smisek, the former CEO of United Airlines, received a separation payment of $4.875 million in cash along with additional equity awards and other benefits for a total of close to $37 million after being ousted from his company. FOX News Chairman Roger Ailes was reported to have received an exit package worth $40 million after being ousted from his job amid sexual harassment claims. And Wells Fargo CEO John Stumpf, already under fire for a fraudulent bank account scheme, has faced tough questions about his salary and the multimillion-dollar retirement package of Carrie Tolstedt, a key executive tied to the scandal. Both Stumpf and Tolstedt have been forced to forfeit millions in stock options and other compensation.

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