A Short History of Golden Parachutes
Harvard Business Review
OCTOBER 3, 2016
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. This was quickly followed by the era of hostile takeovers in the 1980s.
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