Interim CEO John Chen cleaned up the C-Suite at BlackBerry and now the bill is coming due. BlackBerry put out a release stating that these executives will be getting a collective $6.8 million when they leave. Here is how the golden parachutes break down:
- Chief Financial Officer Brian Bidulka – $3 million ($1.2 million for two years of his salary plus stock options and retirement savings)
- Chief Operating Officer Kristian Tear – $1.3 million based on current stock price
- Chief Marketing Officer Frank Boulben – $2.3 million
This is all still much less than executives would have been paid if they actually successfully sold the company. This was probably still the right (expensive) decision by John Chen.