January 23, 2019

Whole Foods CFO Is Going to Be Fine

whole foods cfo amazon

Don’t you hate it when you start a new job and then, seemingly out of nowhere, another company comes along to buy your employer, likely eliminating the need for your position? And don’t you hate it when that all goes down and you pull in a few million for your trouble? That’s what Whole Foods CFO Keith Manbeck, who’s been working at the company for about a month, is going through right now:

If Mr.  Manbeck is terminated without cause or quits with “good reason”, he could be entitled to lump sum payments totaling $3,950,000 depending on how long he remains at Whole Foods. That is in addition to accelerated vesting of any stock or option grants the grocery chain made when it named him to the job last month, according to a Whole Foods filing.

And that number excludes $400,000 Whole Foods has agreed to pay for stock grants from a previous employer.

If there’s one aspect of career corporate life that’s worth holding out for, it’s the possibility that you could fall ass-backwards into a pile of money.

[WSJ]

 

Related articles

accounting vs advisory

3 Reasons Why Accountants Should Move to an Advisory Job

Today’s businesses are increasingly looking to their accounting firms for services beyond accounting, auditing, and compliance. They want a true advisor—someone to help guide their financial future and evaluate all different types of transactions. This has created an opportunity for today’s accountants, one that some will find alluring, provocative, and potentially lucrative. But for many, […]