Where Are They Spending The Money?
The Dow Jones front office shake-up apparently wasn't over, after all.
Dow Jones' Chief Financial Officer Christopher Vieth is being shown the door Officially, he's "leaving to pursue other career opportunities." I got fired once at a radio station in Chicago, and the note to the staff (after security helped me empty my desk) was that Steve was "leaving to pursue other career opportunities."
Chris' severance package? His regular salary for 18 months, as well as an amount equal to 1-and-a-half times his annual target bonus. (We'll be asking for the same thing for you in the next round of bargaining.)
The new guy? William Plummer from Alcoa is in line to get 1.1 million dollars worth of DJ stock and stock options— above and beyond the salary he's going to be pulling down.... (and I'll bet you, he came in above scale.)
I guess we know what the company is going to do with all the money it saved with that outsourcing.
As always, feel free to let me know what you think.