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Relocation, Relocation, Relocation

When public companies hire C.E.O.'s, shareholders often supply the moving vans—and occasionally the homes too.

Man holding shield
Top executives rewrote their contracts after Enron, making it nearly impossible for them to get fired. Now shareholders are paying the price. Read More
Industry:
Energy and Utilities
Summary:
A holding company, which through Pacific Gas and Electric Company is engaged in the businesses of electricity and natural …
Primary executive:
Peter A. Darbee,
Industry:
Food and Beverage
Summary:
The Company and its subsidiaries are engaged in manufacturing and marketing of ready-to-eat cereal and convenience foods.
Primary executive:
A.D. David Mackay,
Industry:
Finance
Summary:
An investment banking, securities and investment management firm, which provides a range of services worldwide to a diversified …
Primary executive:
Lloyd C. Blankfein,
Industry:
Healthcare
Summary:
A biotechnology company, which discovers, develops, manufactures and markets human therapeutics based on advances in cellular and molecular biology.
Primary executive:
Kevin W. Sharer,
Industry:
Telecomm
Summary:
The Company provides voice, data, Internet, video and wireless services nationwide and globally to mass markets, business …
Primary executive:
Edward A. Mueller,
Industry:
Retail
Summary:
The Company is a retailer of products for the home.
Primary executive:
W. Howard Lester,
Industry:
Technology
Summary:
The Company is a vendor of open application lifecycle management solutions, which represents the segment of the ALM market …
Primary executive:
Tod Nielsen,
Edward A. Mueller
Industry:
Telecomm
Biography:
On August 10, 2007, the Board appointed Edward A. Mueller, 60, as a director and to the positions of Chairman of the Board …
Amgen logo
California biotech firm Amgen ­promoted Robert Bradway to C.F.O. last year and paid $170,541 to relocate him from New York.

Edward Mueller

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.


Edward Forst
Last year, Goldman Sachs spent $568,679 on moving chief ­administrative officer Edward Forst from New York to London.


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.
 

Tod Nielsen
Borland Software in Cupertino, ­California, moved C.E.O. Tod Nielsen twice in two years: first from Redmond, Washington, where he’d worked for BEA Systems, and then to its new headquarters in Austin. Grand ­total: $295,227.



Jim Jenness

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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