By David French NEW YORK (Reuters) -Senior management at Pioneer Natural Resources will likely be out of a job once the company's $60 billion sale to Exxon ...
Known as golden parachutes, such payments are commonplace in corporate America and are intended to incentivize management to sell a company even if it means ending their own employment.
Senior management at
Pioneer Natural Resources will likely be out of a job
once the company's $60 billion sale to Exxon Mobil is
completed, but the top brass will walk away with bumper payouts
which...
Pioneer's mega-sale to Exxon will trigger $71 million in exec windfalls streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
By David French NEW YORK (Reuters) - Senior management at Pioneer Natural Resources will likely be out of a job once the company's $60 billion sale to...
NEW YORK (Reuters) -Senior management at Pioneer Natural Resources will likely be out of a job once the company's $60 billion sale to Exxon Mobil is completed, but the top brass will walk away with bumper payouts which were sweetened further earlier this year. The top five executives at the U.S. shale operator are set to share $71 million in severance payouts, with Chief Executive Scott Sheffield on track to receive around $29 million, a review of regulatory filings and Reuters calculations show. The award to Sheffield, who helped found the shale producer over two decades ago and was slated to retire at the end of 2023, represents a sum worth three times his base salary as well as all his pending equity awards for performance.
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