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What severance does the chief deserve when his board calls for a change of leadership due to a loss of confidence?

Christian Science Monitor: What severance does the chief deserve when his board calls for a change of leadership due to a loss of confidence?

June 28, 2004 edition

By Laurent Belsie, Work & Money editor

What severance does the chief deserve when his board calls for “a change of leadership due to a loss of confidence?” For Philip Watts, former chairman of Royal Dutch/Shell, it comes to nearly $2 million, plus stock options and an annual pension. He resigned after Shell said it overstated oil reserves.

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