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Outgoing chairman of Switzerland's Novartis foregoes $78 million golden parachute deal

Article by: GEIR MOULSON , Associated Press
Updated: February 19, 2013 - 1:43 PM

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LicoriceFeb. 19, 13 8:54 AM

If only this would catch on worldwide! Such payouts are obscene.

rshacklefordFeb. 19, 13 9:49 AM

(article quote): "BERLIN - Swiss drugmaker Novartis AG has agreed with its outgoing chairman to scrap plans for a farewell non-compete deal that could have netted him up to 72 million francs ($78 million)." ---- Unless I am misunderstanding this article, he gave up $78 million bucks in order to have the right to work for a competitor immediately. Correct? If so, he likely already has something lined up. I highly doubt he left $78 million on the table and walked away without having something nice to walk towards.

k3k30sFeb. 19, 1310:25 AM

rshackleford: your understanding of this article is not mine.

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Outgoing chairman of Switzerland's Novartis foregoes $78 million golden parachute deal

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