Balsillie and Lazaridis to receive nearly $12 million in parting gifts
It's been been nearly 5 months since Mike Lazaridis and Jim Balsille stepped down as co-CEO's of Research In Motion, and a document filed Thursday by RIM has detailed their compenstation. Lazaridis, who will be staying on as vice-chair of the board and keeping his own dedicated office, will receive around $3.9 million in compensation. Balsillie, who originally stayed on the board of directors but has since left RIM completely, will receive approximately $7.9 million. Not too shabby on either count if you ask me, but then again what do I know, I get a lowly blogger's salary.
The total payouts to the former CEOs amounts to roughly $12 million in total, which isn't much less than new CEO Thorsten Heins is set to pull in for the 2012 fiscal year ($10.2 million). Heins basically got a $9 million raise from his $1.9 million salary in 2011 when he was promoted to CEO. Nice, right?
So ... what would you do with $12 million??
Source: Globe and Mail