The Fortunate Dismissal
By Ekaterina Dranytsyna, The St. Petersburg Times
A CEO of a large corporation enters the meeting room and hears the verdict of the company’s board. “You’re fired. And here is your $30 million,” says one of the directors. Sounds like fiction, like a perversion of “The Apprentice” reality show? But, it is not. In May this year Forbes published a list of CEOs notably familiar with the procedure. In business slang, those happy occasions are called “golden parachutes,” which stands for lucrative benefits given to key executives when a company is taken over by another firm, resulting in the loss of their job.
