43
Spotify announces CFO to leave, days after he cashed in $9.3M in shares
(www.theguardian.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 10 Dec 2023
43 points (95.7% liked)
Hacker News
14 readers
2 users here now
This community serves to share top posts on Hacker News with the wider fediverse.
Rules
0. Keep it legal
- Keep it civil and SFW
- Keep it safe for members of marginalised groups
founded 1 year ago
MODERATORS
ha... let me get this straight.... they have to pay this exec millions of dollars with the justification being 'that is the cost of talent'
here the 'talent' 100% failed to turn the company around to turn a profit, but are out the door with their millions of dollars.. because of their 'talent'.
in the meantime, there are absolutely humans literally begging for food in america.
Not quite. He sold his shares.
What do you mean "not quite"? Those shares were part of his compensation / pay. OP is exactly right -- tech executive gets paid millions regardless of actual performance (in this case very poor performance that likely resulted in him being shown the door). Meanwhile, there are folks in this country who can't afford shelter or a meal.
Next time Spotify should hire a homeless person as CFO for half as much as the ousted CFO. Same job performance results, but they'd save millions and actually do some good in the process.
I thought they were talking about an exit payment.
But if he is selling his remuneration shares, then that is different.
I guess more annoyed at the size of their remuneration.