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CEOs who walked away with millions after losing their jobs
There are some chief executives who received millions, even billions, of dollars when they were shown the door by the company.
Let's take a look at some of the biggest golden handshakes in the world.
Source: Zero Hedge
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CEOs who walked away with millions after losing their jobs
William McGuire
Compensation: $1.6 billion in stock
Company: UnitedHealth Group
Industry: Health care
Year of compensation: 2006
Overall rank: 1
McGuire was the CEO of UnitedHealth Group from 1991 to 2006. He was later forced to repay $468 million and fined $7 million by the Securities and Exchange Commission.
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CEOs who walked away with millions after losing their jobs
Michael Eisner
Compensation: $1 billion
Company: Walt Disney Company
Industry: Entertainment
Year of compensation: 2005
Overall rank: 2
Eisner expanded the Walt Disney empire by adding seven theme parks, 10 cable channels and bringing ABC network into the fold.
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CEOs who walked away with millions after losing their jobs
Angelo Mozilo
Compensation: $184 million
Company: Countrywide Financial Corporation
Industry: Finance
Year of compensation: 2008
Overall rank: 3
Mozilo, whose salary, bonus and stock were at one time valued at about $470 million, was later charged with insider trading and securities fraud and was slapped with a fine and ban.
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CEOs who walked away with millions after losing their jobs
Michael Ovitz
Compensation: $169 million
Company: Walt Disney Company
Industry: Entertainment
Year of compensation: 1997
Overall rank: 4
Ovitz, who was working under Michael Eisner, was kicked out of the company by shareholders after just 14 months.
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CEOs who walked away with millions after losing their jobs
James Kilts
Compensation: $165 million
Company: Gillette Company
Industry: Personal care
Year of compensation: 2005
Overall rank: 5
Kilts, who was receiving $6.5 million salary per year, lost his job when Gillette was taken over by Procter & Gamble.
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CEOs who walked away with millions after losing their jobs
Stanley O’Neal
Compensation: $161 million
Company: Merrill Lynch & Company
Industry: Banking
Year of compensation: 2007
Overall rank: 6
O’Neal, who walked away with $161 million after losing his job, has been called one of the worst CEOs in history.
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CEOs who walked away with millions after losing their jobs
Charles Prince
Compensation: $99 million in stock
Company: Citigroup
Industry: Banking
Year of compensation: 2007
Overall rank: 7
Prince was not only given nearly $100 million for leaving Citigroup but also a company car and chauffeur for five years.
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CEOs who walked away with millions after losing their jobs
Henry McKinnell
Compensation: $83 million
Company: Pfizer
Industry: Pharmaceuticals
Year of compensation: 2006
Overall rank: 8
McKinnell gave himself a 72 per cent salary rise even though the company shares were falling.
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CEOs who walked away with millions after losing their jobs
Frederick Ross Johnson
Compensation: $53 million
Company: RJR Nabisco
Industry: Food processing, tobacco
Year of compensation: 1989
Overall rank: 9
Frederick Ross Johnson's $53 million compensation in 1989 was the biggest golden handshake at that time.
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CEOs who walked away with millions after losing their jobs
Carly Fiorina
Compensation: $40 million
Company: Hewlett-Packard
Industry: Technology
Year of compensation: 2005
Overall rank: 10
Fiorina's $40 million compensation was challenged by shareholders in court but they lost the case. She, meanwhile, lost her bid to become US Senator.