Comment on You don’t see articles like this about moms with three two jobs who still manage to take care of their kids.

• ChickenLadyLovesLife@lemmy.world ⁨1⁩ ⁨day⁩ ago

  I know one CEO who took full responsibility … in the back.

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• boonhet@sopuli.xyz ⁨1⁩ ⁨day⁩ ago

  It’s not that they take responsibility, but rather in extreme circumstances they take the plunge and resign, or they’re fired. So the company can say they’re turning a new leaf

  Examples from a quick search:

  Hank McKinnell, CEO of Pfizer, received a US$188 million severance package after his resignation, even after a 44% decline in the company’s stock value since he took over in 2001.

  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.

  United was in the middle of a corruption scandal and of course he took the fall, but I’m 100% sure he wasn’t acting alone.

  Shady companies are always gonna be shady. But they’ll oust a CEO every now and then to pretend like they’re gonna change.

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  • Kissaki@feddit.org ⁨2⁩ ⁨hours⁩ ago

    Does it need that much pay for someone to take the fall?

    I feel like, of that’s the primary or sole motivator to pay so much, you could get someone “to take the fall in such rare cases” for much less.

    I’d certainly be willing to for 2 mil. I don’t need millions for years and then a multi-million severance package.

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    • boonhet@sopuli.xyz ⁨43⁩ ⁨minutes⁩ ago

      Thing is, you may have to go to jail, depending on what the company is caught doing. Your name will be all over the news too.

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