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The golden parachute
Thursday, January 22, 2015 18:06
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European pharmaceuticals group Sanofi on Thursday said it had agreed to pay 4.44 million euros ($5.06 million) in total to ousted chief executive Chris Viehbacher.
Viehbacher, who left in October, will receive a payment of 2.96 million euros, which corresponds to his fixed and variable compensation for the year, Sanofi said in a statement.
On top of that, he will pocket 246,750 euros each month for half a year until June 30, or a total of 1.48 million euros, for not working for a competitor.
Viehbacher also undertook not to hire away previous employees of the company for 18 months and signed a confidentiality agreement for 24 months, Sanofi said.
http://www.oann.com/ousted-sanofi-ceo-gets-4-44-million-euro-severance-package/
“I have no country to fight for; my country is the Earth, and I am a citizen of the World.” – Eugene V. Debs
Source: http://mailstrom.blogspot.com/2015/01/the-golden-parachute.html
