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Former BlackBerry CMO, COO, & CFO Walking Away With $6.8 Million

Brian_Bidulka Chief Financial Officer Frank_Boulben CMO Kristian_Tear COO

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.

via WSJ

4 total comments on this postSubmit your comment!
  1. Who would hire a fired COO or CFO…etc. An employee can say anything but from the C class, your resume is all over the news and excuses at this point are tough.

    • Smaller, growing companies are often looking for bigger company experience. Plus they have a vast number of loyal contacts who are bound to give them another opportunity. Just because it didn’t work out at BlackBerry, doesn’t mean they are without any skills. The corporate world will understand that BlackBerry was a difficult situation to succeed in.

    • That’s the beauty of the golden parachute! Who needs to work when you just cashed a cheque for $3M?

    • Often these hirings and firings are based on differences ideology and politics. Folks in those roles acknowledge that, and that is accepted at that level that if you don’t play ball you may get yanked. These guys are also quite good at spinning stories in their favor because not all details are revealed in these personnel changes.

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