BlackBerry interim CEO Chen gets $85 million of restricted stock and $1 million base salary
0. phoneArena 07 Nov 2013, 20:01 posted on
On Monday, Fairfax Financial pulled out of its $9 a share purchase of BlackBerry; the company's largest shareholder not only couldn't find financing for its bid, it also felt that this was nit the time to invest in an LBO. The deal was scrapped and instead, Fairfax said that it would lead a $1 billion investment in the beleaguered manufacturer. BlackBerry will sell convertible debt Fairfax itself will take down $250 million of the debt...
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1. alpinejason (Posts: 262; Member since: 06 Sep 2011)
I've. Said it once and I'll say it again they get paid to fail
2. xtroid2k (Posts: 515; Member since: 11 Jan 2010)
Well I would say this sounds reasonable. I mean you can't bring in top brass and pay peanuts. This is far better then heins agreement.
3. bananana (Posts: 34; Member since: 27 Oct 2013)
Let's see if an asian could turn things around
4. InspectorGadget80 (unregistered)
CEO's shouldn't get a bonus
9. kanagadeepan (Posts: 916; Member since: 24 Jan 2012)
Yes, especially if they can't steer the company towards profit...
5. cripton805 (Posts: 1428; Member since: 18 Mar 2012)
Buy some eyebrows and some eyelashes bruh...
6. remtothemax (Posts: 260; Member since: 02 May 2012)
what could any single person do to deserve $85 million? this is insane. this is like feudalism all over again.
7. Shatter (Posts: 2036; Member since: 29 May 2013)
The article clearly states he had 13 million in stocks and it grew to 85 million.
10. AfterShock (Posts: 3698; Member since: 02 Nov 2012)
As a common man to see bonuses like that makes me angry inside.
Let them prove their worth first like jobs that make world actually go around and not by a promise.
13. Jommick (Posts: 221; Member since: 10 Sep 2013)
The point of a performance bonus is to be paid if and when you perform.
Besides the point though, why would you want to work a job anyway? It's a terrible way of making money.
11. jmonteiro829 (Posts: 181; Member since: 13 Feb 2012)
We are failing as a company.... Let's blow more money!
12. MelvinPainter (Posts: 59; Member since: 05 Apr 2012)
Why not pay the big bucks AFTER he has made a turn-around.