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According to a new report from MSCI, “Are CEOs Paid for Performance?” higher executive compensation—including a severance package—is not directly tied to better performance.Another high-profile CEO who could be headed for a soft landing: Yahoo’s Marissa Mayer, who could be out once the Verizon takeover of her company is complete.Mayer came on board in 2012, in hopes she would restore the tech behemoth to its former glory.
And today, Wells Fargo announced that beleaguered CEO John Stumpf is stepping down, though we don’t yet know the size of his golden parachute.
But that vision fell far short of expectations—the stock declined by 50% during his tenure.
Ultimately, Johnson was pushed out by the company’s board after just 17 months, and left without severance.
In between all of that was the less prominent Evan Williams, who Costolo replaced in 2010. ) Under Costolo’s leadership, the company’s revenue stagnated and its stock price fell 14% from the time of its initial public offering to the time Costolo left.
Fanning the flames were Wall Street investors, many of whom called for Costolo’s resignation.