Jack Welch at General Electric: $417 Million According to a recent report from GMI, the corporate governance research firm, during his tenure as CEO of General Electric, Jack Welch received benefits such as a “$80,000-per-month Manhattan apartment owned by the company, court-side seats to the New York Knicks and U.S. Open, seating at Wimbledon, box seats at Red Sox and Yankees baseball games, country club fees, security services and restaurant bills.” When he retired as CEO in 2001, he collected a severance payment worth $417 million. By far, this was the largest severance package paid to any American CEO in the last decade. Mr. Welch received almost one hundred million dollars more than his next closest competitor in list of the largest severance packages.
Posted on: Sun, 28 Jul 2013 08:23:51 +0000
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