BlackBerry CEO could make $55.6M by selling the company
0. phoneArena 17 Aug 2013, 13:55 posted on
Pop quiz: what is the reward for taking charge of a sinking ship and failing to keep it from going down? If you answered $55.6 million, you are correct. According to a proxy report filed in May, that's how much BlackBerry CEO Thorsten Heins stands to make if/when the company is sold and he is removed as CEO. And, the worst part of it is that it was the BlackBerry board of directors that are responsible for Heins' windfall...
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10. james004 (limited) (Posts: 410; Member since: 15 May 2013)
lol screw all the share holder to make pretty penny
17. ShenAlJoker (Posts: 70; Member since: 19 Jul 2013)
Nokia!!!!!!!!! buy bb!!!!!!!
Just kidding ;-)
4. Droid_X_Doug (Posts: 5155; Member since: 22 Dec 2010)
Only problem is no one wants to buy BB at the asking price. So, no windfall for ole Thorsten.
5. scsa852k (Posts: 251; Member since: 16 Oct 2012)
What if he's fired by the board before BB is sold?
12. Glim12808 (Posts: 385; Member since: 26 Oct 2011)
Ah yes, the "Severance Pay" as it's called here in my country.
7. tedkord (Posts: 3779; Member since: 17 Jun 2009)
That's the problem with big business that days. The CEO has no risk. Sink or swim, he gets his pot of Gold. You see guys run a profitable company into the ground, and get a golden parachute, while the low level employees get nothing.
There is a refinery near me that closed. The hourly employees got one week severance for every year of service capped at sixteen weeks. The upper management that weren't given other jobs elsewhere got three weeks per yer capped at 60 weeks. So, the guys who drove the facility into the ground, so long as they had at least 7 years service, got more than guys who had 35 years.
14. Edmund (Posts: 633; Member since: 13 Jul 2012)
That's why the liberals (or in your case republicans and conservatives) don't like unions. Try pulling that $hit in the health industry and see how far they get.
16. Googler (Posts: 813; Member since: 10 Jun 2013)
Same problem with Wall Street, when CEO's demand their people get bonuses after they ran things into the ground, it's wrong no matter what approach you take to examine it.
Bonuses and pay should be based upon quality work, not failures.
8. seret6 (Posts: 30; Member since: 14 Aug 2013)
dear rim or bb or whatever u like to call ur self
join android and make bucks
q10 or newer all qwerty in lime pie 5.0
and you may gain market share
26. axllebeer (Posts: 250; Member since: 05 Apr 2011)
I doubt it. There are only a handful of OEMs actually making good $ on the Android platform. Although I have no problems with Android, I don't think another manufacturer using that OS is going to start making big bucks.
9. Chris_Bakke (Posts: 143; Member since: 23 Jan 2013)
Why does that BB look so small in his hands? I mean it literally look miniature. Is it perspective or am I just not seeing it right?
15. Kishin (Posts: 462; Member since: 30 May 2013)
Join windows or android make money faster fast and ur company can still be saved
18. xtroid2k (Posts: 314; Member since: 11 Jan 2010)
I think this deal was made because who wants to take control of a sinking ship. Its like changing seats on the titanic. The board probably knew in advance the company was sinking and needed to provide incentive for somebody to put their good name on the line. I certainly wouldn't have taken such a job even if qualified with out a good incentive. who would want to hire a failed CEO. he looks like he's ready to retire anyway lol.
20. AfterShock (Posts: 908; Member since: 02 Nov 2012)
Google should scoop bb and keep it alive. Diversify
21. Droid_X_Doug (Posts: 5155; Member since: 22 Dec 2010)
And why on Earth would Google want to scoop BB?
23. xoxoGeorges (Posts: 122; Member since: 11 Jul 2013)
Just like what they did with motorola: patents
29. Droid_X_Doug (Posts: 5155; Member since: 22 Dec 2010)
The price that Google would be willing to pay for BB's patent portfolio is nowhere near what BB would be willing to sell them for. Google is better off waiting until BB is in BK and buy the patents for pennies on the $.
28. Droid_X_Doug (Posts: 5155; Member since: 22 Dec 2010)
BB's security protocols (triple DES) have been eclipsed by AES256. Also, protocols are not patents. So, no exclusivity angle.
22. xoxoGeorges (Posts: 122; Member since: 11 Jul 2013)
Yahoo is on a shopping spree and I wouldn't be surprised if it buys BB
25. eli577 (Posts: 74; Member since: 29 Jun 2010)
Yahoo is owned by Microsoft, so basically it would mean that MS bought RIM.
24. Antonyjoseph (Posts: 194; Member since: 06 Apr 2013)
MS should buyout BB and start using the hardware facilities for making WP devices. Android is already too crowded and the ex-BB clients are likely to be happier with Windows OS.
31. Rager722 (Posts: 84; Member since: 30 Jan 2013)
Imagine WP8 software on a Blackberry device with a keyboard? That ish* would look ugly!
32. rawlgnd19 (Posts: 9; Member since: 08 Sep 2011)
so im guessing its not big enough to not fail?
33. apiskula (Posts: 363; Member since: 25 Jan 2013)
Leave already Thorsten you fool. Take your dumb blackberries and leave
34. jfuente11 (Posts: 28; Member since: 06 Nov 2012)
They are the number 1 smartphone back then... What happened?