A $56 million golden parachute would go to the current Heinz CEO if he were to get fired. A golden parachute of that magnitude is pretty extraordinary, but it is what awaits William Johnson should Heinz decide to part ways with him. According to a report from late Monday (March 4), this was revealed during a regulatory filing that disclosed the specifics of his contract.
Under the new owners, Johnson can also make $40 million when he decides to walk away from the position. That would be the money he gets should it be his choice to leave, but it would go up to $56 million if the new owners show him the door. Either way, Johnson is line for a huge payday when his time as the CEO of Heinz finally does come to an end.
The money that William Johnson will make from Heinz doesn't end with that severance package, though. According to the report, he is also entitled to a payout of $99.7 million in vested stock and $57 million in deferred compensation benefits that he accrued over his 30-year career with Heinz.
That $56 million golden parachute is something that Johnson can certainly look forward to and it will certainly reward him nicely for all the time he has spent at the company.
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