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Big bucks for fired Starbucks CEO
Posted by Fired Fred on January 28, 2008 4:57 PM
Wherever Jim Donald goes next, he'll be able to afford an espresso. The ex-Starbucks CEO picked up a full-flavored severance package that included $1.25 million.
Not including the stock options. Make that a double espresso...
Those options are worth $9.52 million, based on Monday's closing stock price of $19.66. The deal, reached about two weeks after Donald was fired, gives him three months past his Jan. 7 firing date to exercise those options.He needs the extra income. Java Jim only made $7.4 million in compensation last year. That was while the stock price swirled into the dregs, which made a bunch of Jimmy's other options worthless.