$100 million payout for retiring CEO

[Liberal_in_LA]

he doesn't look 81. Money keeps you young

$100 million payout for retiring CEO



Nabors Industries CEO Eugene Isenberg is stepping down, the company announced Monday, and he's taking $100 million with him.

The 81-year-old Isenberg will be replaced as CEO of the oil and gas drilling firm by Nabors (NBR) President Anthony Petrello but will remain as the firm's chairman of the board. According to an April SEC filing, Isenberg is contractually entitled to a $100 million payment in the event that he is fired or that the firm otherwise makes a change in control.

Isenberg, or presumably his estate, would have been paid the money even in the event of his death.

http://money.cnn.com/2011/10/31/news/companies/nabors_ceo_bonus/index.htm?hpt=hp_t2

[redqueen]

1. Ugh

:puke:

[TheWraith]

2. Oh there's much worse cases than that.

The guy was there for 24 years. Compare that to HP's recent CEO, Leo Apotheker, who walked away with ~$30 million after being on the job for 11 months.

[Kennah]

9. I think Dollar Bill McGuire is the king

$1.6 billion in total compensation, about $7.6 million, PER MONTH, for a little over 17 years.

[kestrel91316]

3. I saw this and said, "Eat the rich," and my vegetarian assistant replied,

"Crockpot them with some root vegetables and I'D even eat them."

[Posteritatis]

10. Hee. (nt)

[lpbk2713]

4. There's a reason he doesn't look his age.

He probably never had to worry if he could make it until payday in his entire life.

[Liberal_in_LA]

8. no, he's never had to take out a payday loan. lol

[joeybee12]

5. There's an awful lot of make-up on that face...knr

[Liberal_in_LA]

7. yeah, I see the stage makeup.

[Scuba]

6. The Koch's net that much. Every week. Each. n/t

[ThatsMyBarack]

11. Photoshopped!

He looks like he's made of clay.

[sarcasmo]

12. Who wants to bet the Nabors corporation paid no taxes this year.

[toddwv]

13. Wow, $600,000,000 over the course of his career.

Nabor Industries laid off nearly 30% of its workers in 2009.

I guess they're wrong... crime DOES pay.

[HCE SuiGeneris]

14. $3.89 per gallon of gas is what I paid today.

So glad I could contribute to the cause...

meh