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Why do high level CEOs get big severance packages even when fired?

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Why do high level CEOs get big severance packages even when fired?

Answer by Drew Steig – Quoras Own Start Up & Small Business Guru

Answer originally posted on Quora.Com

Usually its because the company really wanted this ceo, and it was negotiated into the contract. Othertimes its incentive to get the ceo to go away quietly if there were internal issues, or if there was no legitimate reason to fire the ceo, the company just found someone better, or wants to go in a new direction. At high level executive positions it can take years if ever to find a comprable new job, and like many people, not all ceos plan ahead financially for this contingency, and even for the ones that do, that severence will help alot to pay the bills until they can reduce expenses, and/or get a new job


https://www.quora.com/Why-do-high-level-CEOs-get-big-severance-packages-even-when-fired/answer/Andrew-Steig