Go to Ready, Fire, Aim! - Mihail's Public Blog
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- Go to Jack Welch: "perception matters"
And...
He offered his wife only $20M as settlement (when he's worth maybe $900M??!). Her reaction was understandable and only then did she start to play hardball with him by noting details of his arrangement with GE.
And if this was all so above board, why is the GE board so upset that the details of his secret retirement package have been made public to GE shareholders).
posted by
Mihail
on September 17, 2002 at 8:33 AM
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"perceeption matters"
It is interesting to note that Welch's post-retiremnet compensation package came to light as a result of a very messy divorce battle. He has agreed to renounce the privellages but only because perception matters and he does not want Generel Electric (and presumably himself) to be tarnished by the media scandel. This ofcourse highlights the importance of checks and balances and limits on even superstar CEO power. Welch remindes us that GE market capitalization increased by $400 billion during his tenure. While shareholders and employees benefited greatly Welch also retired with $880 million in GE shares.
At this time when GE shares are valued are at a fraction of that it makes sense that Welch's compensation package is accordingly affected
posted by
Raeena
on September 17, 2002 at 8:01 AM
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