Chiquita execs could get bumper payout

For fresh fruit and vegetable marketing and distribution in Asia
Carl Collen

BY CARL COLLEN

Chiquita execs could get bumper payout

Report in the US claims CEO Ed Lonergan and several other senior figures could be in line for huge termination payments

Chiquita execs could get bumper payout

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Ed Lonergan and other senior Chiquita executives could be in line for huge compensation payouts if they are terminated as part of the Cutrale-Safra takeover of the fresh produce multinational.

According to the Charlotte Observer, CEO Lonergan could pick up as much as US$15.4m in cash and stock payouts if he is let go, while also being entitled to US$1.9m in cash – equal to his base salary and target bonus.

Also benefitting from this so-called golden parachute compensation would be chief operating officer Brian Kocher (US$7.6m in stock and options), chief people officer Kevin Holland (US$6.3m), chief legal officer James Thompson (US$6.2m) and chief financial officer Rick Frier (US$4.8m), the publication reported.

 

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