Spence will receive a cash severance of $1,875,000, per SEC filings. He will also get $7,500 per month and serve as a Sonos board advisor until June, and his unvested shares will vest.
If I was this bad at my job, I’d be shitcanned with no compensation. It’s pretty cool how we reward failure at the highest levels.
I wish I could be such a PoS where I join a company, propose a massive investment into something, see it’s failure and firing a bunch of staff, then bounce with a nice severance package to join a new company to repeat that over and over again.
Honestly the biggest issue is the rinse repeat part. Anyone can fuck up. But they just get to do it all over again because they have no shame.
Boards and executive suites are filled with people who repeatedly ruin companies and then just do it to the next one.
You mean those bold leaders who have the rare ability to take risks* and make the tough decisions**?
** The decisions that will hurt people they don’t care about and won’t have to deal with, in order to hopefully make their “number go up” score improve.
“Go big or go home!” The CEO says as they fire 70% of their staff and now have to take a vacation to recharge at their summer beach house. His major concern? His severance package is only $3 million when his last place gave him $12 million. But this next coke-fueled idea will absolutely get them back to the top!