Published reports say that when the sale of Albertsons finally closes, the company’s oft-criticized CEO Larry Johnston could pocket more than $40 million.
Johnston’s contract says that if the company changes hands or if he is fired, he gets a payment equal to three times his $1.4 million annual salary, plus three times his annual bonus of $300,000. In addition, Johnston owns more than one and a half million shares in the company, which at the moment would be worth about $38 million.
Johnston’s contract says that if the company changes hands or if he is fired, he gets a payment equal to three times his $1.4 million annual salary, plus three times his annual bonus of $300,000. In addition, Johnston owns more than one and a half million shares in the company, which at the moment would be worth about $38 million.
- KC's View:
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Look, we’re all going to have to come to grips that before long, we’re not going to have Larry Johnston to kick around anymore.
We might as well start getting used to it.
