alt Hacker NewsThe position doesn't get a golden parachute, the person does. If you're CEO when things go shitty you shouldn't get anything more than your bottom-line employee would, which is to say you should just be unceremoniously kicked to the curb.
The position doesn't get a golden parachute, the person does. If you're CEO when things go shitty you shouldn't get anything more than your bottom-line employee would, which is to say you should just be unceremoniously kicked to the curb.
You need a good CEO when things are going bad, because without one they'll go even worse. You still want to make payroll and can't just randomly fire people.
(Also, if you own a failed company you're responsible for cleanup tasks for years afterward.)