They lost everybody's money and got paid big money to do it.
Atlas Energy paid CEO Cohen $73.2M in cash as stock drops 95%
Atlas Energy (ATLS +2.5%) paid CEO Ed Cohen $73.2M in cash prior the 95% collapse in the company's shares and suspension from trading on the NYSE, Bloomberg reports.
Cohen's payments included $38.5M for cash-out of equity awards and a $32.5M severance, and his son, Chairman Jonathan Cohen, received a $30.6M cash-out and a $30.9M severance.
The CEO was among at least five executives who received cash payouts related to the ATLS merger with Targa Resources.
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I would say the payment and amount seems a little irregular. The options I could understand , but the severance is a little strange in my opinion. But they could have had things in place which the shareholders had approved in the past. The share holders kept them in charge and they ran the company into the ground and got a large sum of money for doing a notr so stellar of a job. Bottom line
pig dung replied to Theresa Kolk's discussion 'What's going on in your area?? any info???' in the group Tioga County, PApig dung replied to Theresa Kolk's discussion 'What's going on in your area?? any info???' in the group Tioga County, PA
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