Question

CEO Selections: John Kanas, Bob Nardelli, or Hank McKinnel

Background: A few years ago, companies such as AIG, who had a hand in the cause of the economic downturn that has devastated our economy, were planning to give or actually gave out huge golden parachutes to the same executives who led and approved of the companies actions.

Instructions: Please answer the questions below:

1) Perform a search of a CEO who has received a golden parachute.

1a) Who was the CEO?

1b) What was the company from where he or she received the golden parachute?

1c) What was the total compensation in the golden parachute?

1d) What happened to the company after the CEO's departure terms of before and after revenue?

1e) After the CEO's departure, did the former CEO obtain a leadership position at another firm? If yes, what company.

2) Based on your reading of Chapter 10 of your DLR e-text, do you believe the payment of these golden parachutes was ethical, right or wrong, and why? Please be substantive in your answers.

Notes:

1) Do not use Carl Icahn or Michael Corbat from Chapter 10 of your e-text, as examples of CEOs who have received golden parachutes.

2) DO NOT USE THE SAME CEO AS ANOTHER STUDENT! (Ignore)

3) Use academically credible sources.

4) Be sure to relate your post to Chapter 10 of your e-text and/or other credible source(s) with proper APA in-text citations and References listing. Failure to properly cite sources will result in a zero.

Make at least 250 words or more, thank you.

Answer 1

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Perform a search of a CEO who has received a golden parachute.

A golden parachute is basically a package that entails substantial benefits which are then given to the CEO when then the company is taken over by the firm while the senior executives are terminated due to the merger or takeover. The practice of offering golden parachutes is meant to retain top talent in the human resource. This is done through paying the executives huge amounts of money to entice them to continue contributing to the companies affairs.

One of the CEOs that took up the golden parachute is Bill O’Reilly who walked away with tens of million dollars as he left Fox News. He was able to sign out a contract that enabled him to be awarded $25 million annually. This was done shortly before this tenure as the chief executive officer was ousted.

After the CEO departure, the company was taken over by Roger Ailes, though it was clear that was minimal shareholders involved in the award of the hefty golden parachutes, this contributed to some inquiries that later became substantial claims which hurt the company’s reputation greatly resulting in a high labor turnover.

After the CEO departure, the former Ceo did not get a leadership position in the company. This was largely contributed by the fact that there was a public outcry of continuous embezzlement of funds. This eventually led to the damaged reputation of the CEOs and therefore they could not secure a job from another firm.

Based on your reading of Chapter 10 of your DLR e-text, do you believe the payment of these golden parachutes was ethical, right or wrong, and why?

I believe that payment of these golden parachutes is not ethical, this is because the huge golden parachutes offered to the executives take up most of the hard earned resources of the shareholders hence it is wrong. The golden parachutes are a form of bribery to the executives and hence they should not be offered, the executives are only entitled to the salaries.

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