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October 6, 2008 10:19:58 AM CDT

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CEOs Live the Good Afterlife

Posted Jun 10, 08 9:23 AM CDT in Business 

(Newser) – Corporate critics who say there is not enough connection between performance and executive pay may be gravely concerned to learn that many execs will keep getting sky-high bonuses when they're 6 feet under. A Wall Street Journal review finds dozens of CEOs will receive "golden coffin" payments if they die in office, sometimes in excess of $100 million.

"We think the compensation has been grossly too high already," said a shareholder whose protests helped convince Comcast to nix plans to keep paying one exec $2 million for 5 years after his death. "There's no need to pay them more when they're dead." Counters an Occidental spokesman of its CEO's $101.9 million coffin: It "isn't a death benefit per se—it's what his family would get upon his death."

Source Wall Street Journal

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Comcast CEO Brian Roberts tops the list of CEOs who will get huge posthumous paychecks, with total benefits at almost $300 million.   (AP Photo/Paul Sakuma)
The CEOs at dozens of big corporations are in line for huge 'golden coffin' payments if they die while in office.   (Shutter Stock)
The estate of Occidental Petroleum's boss is in line for a $115 million payday if he dies in office.   (AP Photo)
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death  • corporate earnings  • executive compensation  • CEO  • corporations  • executives  • payoffs


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