BlackBerry's New CEO Offered $85 Million to Stick Around Despite Recent Fall
BlackBerry's new CEO gets $85 million to stick around
BlackBerry wants its new executive chairman and interim CEO, John Chen, to turn the company around,
and it's set him up with a pay package that should help to keep him on
board. Chen is receiving 13 million shares of restricted stock — worth
about $85 million today — vesting over the next five years. He'll also
see $1 million each year in base salary, with a potential performance
bonus of up to $2 million annually. If terminated without cause, he'll
see a $6 million termination package.
Though there's no word on
BlackBerry's search for a new permanent CEO, Chen would seemingly be a
likely frontrunner given both his pay package and credentials. Chen has experience with turning around struggling companies, and so far he's spoken confidently
about BlackBerry's prospects. No timeline has been announced on the
search, but it wouldn't be a huge surprise to see Chen sticking around
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