When Bosses Get Rich From Selling The Company

Golden parachutes are rewarding dealmaking CEOs

When a company announces big merger plans, rank and file employees often suffer a mass anxiety attack: What plants will close? Which departments will shrink? Who will be laid off? In the executive suite, however, the mood is more upbeat. As this season's proxies show, when companies merge or sell out, chief executives get mindblowing pay deals whether they stay on or ride off into the sunset--regardless of past performance.

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