The almost bankrupt California Resources has adopted a new compensation package for its CEO. The new program calls for a payment of 2x the salary and bonus if the CEO is fired without cause.
One would think the compensation committe would be busy trying to ensure shareholders are protected but instead, seemed fixacted on protecting the ceo. The company is heading for bankruptcy for sure with its massive debt load and its ridicilious spending over the last few years.
Related Categories :
Corporate Greed
More Corporate Greed News
-
Corporate Greed: Noble Corp To Pay Exec Bonus Ahead of Bankruptcy Filing
-
Corporate Greed: Extraction Execs Scores Millions in Bonuses Ahead of Bankruptcy Filing
-
Corporate Greed: Chesapeake to Dole Out $25MM to Top Executives
-
Corporate Greed: Chaparral Energy Awards Execs Millions in Bonuses -
-
Corporate Greed: Whiting Execs Award Themselves $15MM in Cash Bonuses Prior to Ch. 11 Filing
West Coast News >>>
-
Kosmos Energy Ltd. First Quarter 2023 Results
-
California Resources Corporation First Quarter 2023 Results -
-
Berry Corporation First Quarter 2023 Results -
-
CPP Investments to acquire 49% stake in Aera Energy -
-
California Resources Third Quarter 2022 Results -