Shaheen Gets $375,000 Per Year For Life

from the what-the...? dept

Okay, time to feel even sicker than you already did. We told you about how George Shaheen had his $6.7 million loan forgiven by Webvan. If you thought that was bad… Now, we find out (thanks to BFrank for the submission) that as part of his “retirement package” he gets $375,000 per year for the rest of his life. Actually, if he dies, his wife keeps getting that per year until she dies. What happens, though, when Webvan dies? Either way, this is ridiculous. The guy drove the company into the ground. I don’t care if there were other factors, but he’s the CEO. His job is to make sure those other factors don’t exist or matter. His job is to make the company a success – which he clearly did not do. If I were a Webvan shareholder I would be pissed off at this deal.

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