New Blackberry CEO gains $85 million worth of stock

Posted by: Jennifer Cefai (3 years, 11 months ago)

In the wake of the unrelenting turmoil it has had to face, it comes as no surprise that Blackberry is keen to see some turnaround from new executive chairman and interim CEO John Chen. This became apparent when details of Chen’s pay package were released. Chen is to release 13 million shares of restricted stock over the next five years, which is worth something like $85 million today. Chen will also receive a base salary of $1 million a year and bonuses up to $2 million annually. If he is terminated without any reason, he is entitled to a $6 million termination package.

Despite his supposed interim role, it is very likely that Chen will be made the next CEO with a pay package like this. Considering his reputation, he is definitely worth Blackberry’s while. 

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