The Sweetest Goodbyes
A Legend's Bloated Legacy
Capital One’s $13.2 billion purchase of North Fork Bancorp in 2006 paid off nicely for North Fork’s then-C.E.O. John Kanas, 60. He snagged $214 million, worked for about seven more months, then retired.
Hilton Hotels C.E.O. and co-chairman Stephen Bollenbach, 65, stands to make $137 million, plus enough to cover his tax bill, once Blackstone Group closes its $18.5 billion buyout of Hilton.
When private equity firm Madison Dearborn finalizes its $5.4 billion takeover of Nuveen Investments, Nuveen chairman Timothy Schwertfeger, 58, will pocket about $209 million in severance and stock sales.
If Kohlberg Kravis Roberts & Co. completes its $32 billion takeover of the utility company TXU, C.E.O. John Wilder, 49, will be out of a job—and $294 million richer.
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