The question then, is why, in the face of mass layoffs and catastrophic shareholder value destruction, does a CEO of a publicly traded company deserve $20,000,000 USD in compensation when he is firing employees with no means to support their families? How does this individual even deserve his job?
6 replies (most recent on top)
Doug should take a note from Elon Musk. Elon recently changed his compensation so that it is tied to the market cap of the stock. Essentially, Elon gets nothing unless the stock price goes up in increments of 100%. For Doug, right now he would get $0. When stock hits $6, he would then get 25% of his former compensation, 50% of his former compensation when CHK hits $12, etc, etc.
Lol, if you think CHK or Devon is what turned OKC around, you're smoking crack.
"CHK and Aubrey are the reasons why OKC did such an amazing turnaround.
BS! Part of it yes, but tell that to the Devon people and others
Dougie got big mortgage payments that he needs to make and he also got 12 or so kids that he needs to feed. He is also worried about losing his job like the rest of Chesapeake employees. He is living below poverty level with just a 20 mil salary. Cut the man some slack, will you?
I agree. The top execs should all lead by example and give up something to stop more layoffs. CHK and Aubrey are the reasons why OKC did such an amazing turnaround. Save our company.
CEO's in the past have lowered their own salary when they see their company not performing.
Blaming past management only can go on for so long. At some point take responsibility for the people over the company and publically lower your salary until things turn around.
Maybe you take one less baja dirt bike trip through Mexico or wrestle one less alligator on a private executive trip....but people would appreciate it.