The First Stop on the Road to the Destruction of Humanity

Saturday, December 11, 2004

Random Rant: Golden Handshakes

There's a particular corporate policy that I particularly dislike: the so-called "golden handshake", or a cash package given to executives when they leave a company. Not just if they're "made redundant", but even if they quit, find a better job, or are forced to resign due to accusations of criminal wrongdoing. They're often massive: an example is the $8.5 mil given to the CEO of a company that refuses to pay asbestos victims compensation caused by them.

Will executives have the best intrests of the company and the shareholders at heart if they know they'll make a truckload anyway?

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