BlackBerry CEO 55 million dollar windfall if company sold
- :BlackBerry CEO Stands to Make $55.6 Million in Sale (Correct) - Businessweek
Nice check Thorstein!!!
BlackBerry Ltd. (BB) Chief Executive Officer Thorsten Heins stands to make $55.6 million if he sells the company and is ousted.
That�s the amount he�s entitled to receive if BlackBerry has a change of control and Heins is pushed out by the new owners, according to a May proxy filing. The figure, which includes salary, incentive payments and equity awards, is based on BlackBerry�s stock price at the end of the fiscal fourth quarter. The plan was approved by shareholders at its annual meeting on July 9.Corbu likes this.08-15-13 05:57 PMLike 1 - This isn't good.....too much incentive to not do well.
Posted via the Super BlackBerry Z10Bonnie Bonzai and Blacklatino like this.08-15-13 06:07 PMLike 2 - This should not surprise anyone. BOD is complicit in outrageous compensation to execs. Golden parachutes are the norm for CEOs. CEO is never laid off like employees whom perform all of the heavy lifting. Thorstein Heins will be compensated for his stewardship over +5000 employees dismissals, $3 Billion destruction in shareholder value, and for words of wisdom such as "tablets will not exist in 5 years".
It's surprising his track record at Siemens led to his employment at BlackBerry C-suite. CEO is not truly accountable to shareholders. The reason is whether perform or fail there is always the sweet executive compensation package. Nothing has changed since the Financial Crisis and Great Recession. The elites will take care of themselves at the expense of the little guys.08-15-13 06:10 PMLike 7 - I'm not surprised. CEOs are rewarded for screwing up all the time.
Sent from my Galaxy S4 using TapatalkFastLane228 and howarmat like this.08-15-13 06:12 PMLike 2 - Those kinds of number are normal for CEOs. In the long term it will be more beneficial financially for TH to turn the company around or figure out a solution that allows BlackBerry to survive.
Then the market will know him as the guy that saved/fixed BlackBerry.
Plus don't fool yourself, at that level ego is as important as money.
Posted via CB1008-15-13 06:41 PMLike 8 - Those kinds of number are normal for CEOs. In the long term it will be more beneficial financially for TH to turn the company around or figure out a solution that allows BlackBerry to survive.
Then the market will know him as the guy that saved/fixed BlackBerry.
Plus don't fool yourself, at that level ego is as important as money.
Posted via CB10David in Durham and Superfly_FR like this.08-15-13 07:00 PMLike 2 - I don't think Thor will make it to the end of the year. Unlike BlackBerry, I will be clear with my definition of year. This actual calendar year which ends Dec 31st.08-15-13 07:17 PMLike 9
- :BlackBerry CEO Stands to Make $55.6 Million in Sale (Correct) - Businessweek
Nice check Thorstein!!!
BlackBerry Ltd. (BB) Chief Executive Officer Thorsten Heins stands to make $55.6 million if he sells the company and is ousted.
That’s the amount he’s entitled to receive if BlackBerry has a change of control and Heins is pushed out by the new owners, according to a May proxy filing. The figure, which includes salary, incentive payments and equity awards, is based on BlackBerry’s stock price at the end of the fiscal fourth quarter. The plan was approved by shareholders at its annual meeting on July 9.h20work likes this.08-15-13 07:20 PMLike 1 - :BlackBerry CEO Stands to Make $55.6 Million in Sale (Correct) - Businessweek
Nice check Thorstein!!!
BlackBerry Ltd. (BB) Chief Executive Officer Thorsten Heins stands to make $55.6 million if he sells the company and is ousted.
That’s the amount he’s entitled to receive if BlackBerry has a change of control and Heins is pushed out by the new owners, according to a May proxy filing. The figure, which includes salary, incentive payments and equity awards, is based on BlackBerry’s stock price at the end of the fiscal fourth quarter. The plan was approved by shareholders at its annual meeting on July 9.
... & before anyone freaks out if it wasn't Thor it would be someone else.
...So it might as well be him.
08-15-13 09:20 PMLike 0 - ultimatly its not his call, if the board sees hes not doign a good enough job out he goes, takes his settlement and is done theres more then enough cash for BBY to let him go if they see fit08-15-13 09:42 PMLike 0
- It's surprising his track record at Siemens led to his employment at BlackBerry C-suite. CEO is not truly accountable to shareholders. The reason is whether perform or fail there is always the sweet executive compensation package. Nothing has changed since the Financial Crisis and Great Recession. The elites will take care of themselves at the expense of the little guys.08-15-13 09:51 PMLike 3
- 08-15-13 09:54 PMLike 14
- amazinglygracelessRetired ModA bit over the top don't you think? While Mr Heins' performance has not acquitted him well the problems at BlackBerry started way before he was at the helm. Furthermore, while some are of the view that BlackBerry is circling the drain "destroyed" is incredibly hyperbolic at this stage.08-15-13 09:58 PMLike 3
- A bit over the top don't you think? While Mr Heins' performance has not acquitted him well the problems at BlackBerry started way before he was at the helm. Furthermore, while some are of the view that BlackBerry is circling the drain "destroyed" is incredibly hyperbolic at this stage.08-15-13 10:15 PMLike 0
- My friends company is being sold. Much smaller than bbry and the CEO is getting $20 mill. This is how it goes these days. We should object but there doesn't seem to be anyway to restrict compensation for these top level management guys. The boards are all made up of the same folks that have a chance at these levels of compensation. So the boards don't exercise much restraint. Shareholders don't seem to be able to coordinate any meaningful resistance.
Sent from my Nexus 7 using Tapatalk 208-15-13 10:19 PMLike 0 - amazinglygracelessRetired ModYes, but you seem to want to blame him for all the actions/inactions of the CEOs before him. That is wrong-headed and fundamentally unfair.pantlesspenguin and scorpiodsu like this.08-15-13 10:28 PMLike 2
- Every executive involved with this company is a consummate j6ck6ss. Since I started paying attention, the execs I've known of are Lazardis, Ballsillie, boulben, that dev relations guy, and TH.
Every single one of them has been so demonstrably incompetent it takes your breath away. Just read some of the quotes these 6ssclowns generate. I'd call it a circus, but these chumps make clown college look like MIT. They have misunderstood every single market circumstance, and in most cases, done EXACTLY the wrong thing.
Really just first-class buffoonery. I mean, top-drawer guys. Well done.Bonnie Bonzai likes this.08-15-13 10:40 PMLike 1 - A bit over the top don't you think? While Mr Heins' performance has not acquitted him well the problems at BlackBerry started way before he was at the helm. Furthermore, while some are of the view that BlackBerry is circling the drain "destroyed" is incredibly hyperbolic at this stage.
Anyways, I ask you this, if you knew you would get $55m for failing at your job, would that incentivise you to excel and be the best? I think its a fair question.Bonnie Bonzai and qwerty4ever like this.08-15-13 11:06 PMLike 2 - A few questions awaiting for answers: 1. The timing of launching the long awaited Q10, which suppose the savior for BB, has to be a few days following the disaster Q1 report, Customers has just lost all confidence of BB, and you expect them to invest in the purchase of this phone? 2. Again, the peculiar timing of halt trading then anouncement of intention of sale of the company has to be just 2 days before the launching of Q5, which may fetch a number of school children's purchase before school start. Now the world is out, the company is going bankrupt, who would buy a product at this time? 3. The strategic alignment ect, has been ongoing since 2012, why at this important pre-shool year sale time to make such a dramatic move, to attract attention of the world about your failures?08-15-13 11:27 PMLike 4
- A few questions awaiting for answers: 1. The timing of launching the long awaited Q10, which suppose the savior for BB, has to be a few days following the disaster Q1 report, Customers has just lost all confidence of BB, and you expect them to invest in the purchase of this phone? 2. Again, the peculiar timing of halt trading then anouncement of intention of sale of the company has to be just 2 days before the launching of Q5, which may fetch a number of school children's purchase before school start. Now the world is out, the company is going bankrupt, who would buy a product at this time? 3. The strategic alignment ect, has been ongoing since 2012, why at this important pre-shool year sale time to make such a dramatic move, to attract attention of the world about your failures?
I do agree with the rest, and sadly the rest is what formed the part that I disagreed with. BlackBerry have mishandled the timing of pretty much everything, then once mistimed have done nothing to diffuse the situation.08-15-13 11:32 PMLike 0
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