Wagoner: Don’t Cry for Me, General Motors
Rick Wagoner may be leaving his position as CEO of General Motors but he’s not going away empty handed. Though he cannot receive a severance package under
Jul 31, 2020220.6K Shares3.5M Views
Rick Wagoner may be leaving his position as CEO of General Motors but he’s not going away empty handed. Though he cannot receive a severance package under the terms of the auto industry bailout, he is due to receivesome $20 million in retirement benefits after 32 years with with the company.
And this is on top of the $63 million in compensation he received between 1992 and today. The only caveat? Bankruptcy.
From ABC News:
“„If GM is forced into bankruptcy, Wagoner could get much less, according to Dave Schmidt, an executive compensation analyst with James F. Reda and Associates. Less than $1 million of Wagoner’s total $20.2 million pension package appears to be guaranteed if GM goes bankrupt, Schmidt said.
I imagine he’ll manage to scrape by.
–
Rhyley Carney
Reviewer
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