Poll: Executive Severance Packages Are Out Of Hand

ByJohn S. McClenahen A severance package that pays $55 million? Or $33 million? Even $5.5 million? In the current climate of corporate distrust, a survey showing that 69% of respondents believe that executive severance packages are out of hand really should come as no surprise. Significantly, however, the respondents to this Christian & Timbers survey are themselves executives in major U.S. firms. Emphasizes a critical Jeffrey Christian, chairman and CEO of the executive search firm, "The message we are sending to underperforming CEOs is ludicrous. Anyone who hasn't returned value to shareholders should be only minimally compensated -- at or below current salary, for the time it takes to find to new job, not to exceed one year."