Golden parachute
He must be crying all the way to the bank. Douglas Ivester, Coca-Cola’s former chairman, took early retirement and left the company with a separation package valued at US$17.7 million. Coca-Cola also released US$16.8 million in restricted stock that he otherwise would have lost under the company‘s early retirement plan. Mr. Ivester, 52, who had held the top job for a little more than two years, stepped down after members of the board told him that they had lost confidence in him. Although he had been with the company for over 20 years, it is widely believed that Mr. Ivester mishandled a series of crises and showed reluctant to carry out a large-scale restructuring programme. Mr..
Select offer and read on
6 print issues