$44 million for one day's work

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When Duke Energy announced its merger with Progress Energy last year, the two companies agreed that Progress CEO Bill Johnson would assume the same position at the combined company. So he did: On June 27, Johnson signed a three-year contract to helm Duke. When the merger went into effect on July 2, he assumed the position of CEO.

And then, on July 3 at midnight, Johnson resigned.
Duke Energy CEO Bill Johnson resigns after one day, gets $44 million in severance | Grist
  • Profile picture of the author Halcyon
    Wow! All I got when I left my last job was a stinking coffee mug.
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    • Profile picture of the author Joe Mobley
      Well that just goes to show you...

      you need to clean your mug more often. :rolleyes:

      Joe Mobley


      Originally Posted by Halcyon View Post

      Wow! All I got when I left my last job was a stinking coffee mug.
      Signature

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      Follow Me on Twitter: @daVinciJoe
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  • I have smoke coming out of my ears...and I'm not sure if it is just the heat causing my brain to boil in it's own juices...or the confoundedness and ire created by this story...

    My brain cannot comprehend how this can happen in the business world - someone explain it to me...so I too, can pull a con so astounding as this, my business peers will fall prostrate in awe.

    The simple answer is that it is a violation of contract, and all bonuses and severance should be forfeited.
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