Kolek planning to go pro
https://theathletic.com/3531387/2022/09/20/steve-wojciechowski-marquette-duke-coaching/Interesting. Interesting point that there were "Fire Wojo" chants, cited at the end of the 2020-21 season, the season that most of us weren't allowed to go to.
CEO with a golden parachute
If golden parachutes are only given to CEOs who fail miserably, then yes.
They’re sometimes given to CEOs who fail miserably, but not only.
Usually, golden parachutes are given to CEOs to protect them in the event of a merger or acquisition where the CEO is not the surviving leader. Lesser packages are often given to COOs, CFOs and other critical corporate officers.The purpose of these agreements is simple: There is a strong demand for high quality CEOs. The market clearing function is compensation. Quite frankly, a CEO is not going to join a company if the Board or recalcitrant shareholders can remove them months into their tenure. The golden parachutes give them the security to lead in the direction the CEO seeks to go.Of course, there are cases, like a company for which I formerly worked, where the CEO didn't understand our business, made horrible acquisition after horrible acquisition (none worked out) and was forced to liquidate the company after a hedge fund challenged her strategic vision. Sadly, after destroying shareholder value, she was given a $28.7 million goodbye kiss. Boards of Directors hand out crappy deals like this all too often. Most, if not all, of the $28.7 million should have gone to shareholders as reparations for her bad leadership.
Of course, there are cases, like a company for which I formerly worked, where the CEO didn't understand our business, made horrible acquisition after horrible acquisition (none worked out) and was forced to liquidate the company after a hedge fund challenged her strategic vision. Sadly, after destroying shareholder value, she was given a $28.7 million goodbye kiss. Boards of Directors hand out crappy deals like this all too often. Most, if not all, of the $28.7 million should have gone to shareholders as reparations for her bad leadership.
How was working for Marissa Mayer?
Mayer wasn't a good CEO, but I'm pretty sure she more than doubled Yahoo's stock price during her tenure.