Relocation, Relocation, Relocation
The C.E.O.'s New Armor
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In September, Denver-based Qwest Communications paid $8.9 million for the San Francisco home of its C.E.O., Edward Mueller, whom it had hired from Williams-Sonoma. Qwest sold the home three months later for just $7.1 million.
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In the fall of 2006, San Francisco-based utility PG&E paid $337,296 to relocate its new general counsel, Hyun Park, from Allegheny Energy in Pennsylvania.
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When Jim Jenness became chairman and C.E.O. of Kellogg in 2004, the firm agreed to cover his relocation expenses after he stepped down as C.E.O. He did so in 2006, costing Kellogg $964,613 in moving expenses, a loss on his house’s sale price, and a tax gross-up.
Photoillustrations by Julie Teninbaum.
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