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BUSINESS Saturday 22 april 2017
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Bye-bye, and here’s your check: Golden exit for the departed

STAN CHOE — Marissa Mayer, Yahoo,
AP Business Writer $23 million.
NEW YORK (AP) — Don’t let Verizon is buying Yahoo’s
the vault door hit you on email service and other
the way out. websites, and the deal is
Getting forced out of a expected to close by the
job is painful, but a couple end of June. The remaining
(dozen) million dollars help part of Yahoo, which is also
salve the wound. The latest the far more valuable one,
big name to get a big pay- will be turned over to a new
ment with a bye-bye from company called Altbaba.
the boss is Bill O’Reilly. The If Mayer doesn’t have a job
longtime Fox News host is afterward, she’ll be in line
in line to get up to $25 mil- to get a severance pack-
lion, according to media age, which was most re-
reports, after a string of sex- cently valued at $23 million.
ual-harassment allegations — Philippe Dauman, Via-
led to his ouster. com, $58 million.
He joins the long list of ex- The former CEO of the
ecutives and bold-faced entertainment giant was
names who have grabbed pushed out last summer
handsome payouts that following a bitter battle for
have become standard control of the company’s
operating procedure for board. The $58 million sev-
companies to hand out. erance payment doesn’t
The reasons for departure In this 2015 photo, Bill O’Reilly of the Fox News Channel program “The O’Reilly Factor,” poses for include millions more paid
can range from the mun- photos in New York. O’Reilly is reportedly in line to get up to $25 million following his ouster from to Dauman in pro-rated
dane, such as a CEO simply Fox News amid allegations of sexual harassment, only the latest in a long line of big payouts bonus money, vested stock
being ineffective in boost- made to celebrities and executives as a way to grease the exits. options and other awards.
ing the stock price, to the (AP Photo/Richard Drew) — John Stumpf, Wells Far-
salacious, with accusations go, zero. When the CEO
of improper behavior. It was only last summer that pushed it to become the sey, and Columbia, South stepped down from the
Here’s a look at some other the other man who helped most-watched U.S. cable- Carolina, to curry favor
recent departures of big build Fox News into a rat- news channel. with the chairman of the company last year as the
names and what they re- ings behemoth had his own — Jeff Smisek, United Conti- agency that operates New uproar about its aggres-
ceived as they exited, ac- departure from the com- nental, $36.8 million. York-area airports. He re- sive sales tactics echoed in
cording to regulatory filings pany following allegations The CEO atop United Air- ceived $4.9 million in cash Capitol Hill, the bank said
and media reports: of sexual harassment. Ailes lines stepped down in 2015 severance, along with mil- he would receive no sever-
— Roger Ailes, Fox News, was chairman and CEO of amid an investigation into lions more in stock grants. ance pay. The board also
$40 million. Fox News and, with O’Reilly whether it flew a route be- He also received lifetime reclaimed millions of dollars
as a high-profile host, tween Newark, New Jer- flight benefits. in pay made to him.q
United CEO won’t add chairman title in 2018 as was planned

DAVID KOENIG 69-year-old passenger who will link executive bonuses generally ranks poorly in Friday in a regulatory filing
AP Airlines Writer was dragged off by airport partly to “improving the surveys of airline travelers. that about $6.8 million of
DALLAS (AP) — United Air- security officers, but later customer experience.” Most of Munoz’s com- the total was related to a
lines said CEO Oscar Mu- apologized repeatedly for Last month the airline was pensation last year was in signing bonus that Munoz
noz, who came under United’s handling of the also criticized on social stock. The company said was promised in 2016.q
withering criticism for the situation. media and trolled by other
airline’s handling of an The incident is under inves- airlines after a United gate
April passenger-dragging tigation by Congress and agent in Denver told young
incident, will not be au- the Transportation Depart- girls they would have to
tomatically adding the ment. Lawyers for the pas- change or cover up their
title of chairman in 2018 senger, Kentucky physician leggings before being al-
as planned. The company David Dao, have hinted at lowed to board a plane.
said Friday that Munoz pro- a lawsuit. And there have Munoz was named CEO in
posed rewriting his employ- been calls online to boy- September 2015, replac-
ment contract to remove cott United. ing Jeffrey Smisek, who
the expectation that he Airline executives said this stepped down in the midst
would become chairman week it was too early to of an influence-trading
at next year’s annual meet- know if the widely publi- scandal. Munoz had been
ing of parent United Conti- cized incident has affected on the airline’s board while
nental Holdings Inc. ticket sales. serving as CEO of freight
United also said Friday that United’s board of direc- railroad CSX Corp.
Munoz received $18.7 mil- tors has supported Munoz, He has focused on improv-
lion in compensation last according to a statement ing United’s tattered re-
year. last week from Chairman lations with labor unions.
Munoz was widely fault- Robert Milton. United said The airline has made some
ed for his early responses Friday in a securities filing strides in improving its on-
to the April 9 incident on that management and the time performance, cancel-
board a United Express board “take recent events ing fewer flights and losing
plane. He first blamed the extremely seriously,” and fewer bags. However, it still