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Platinum Parachutes

Executives leaving companies, for all sorts of reasons, are negotiating fat packages

DAVID LEVAN (CEO, Conrail): LeVan will receive an estimated $22 million in cash as well as pension benefits if the Conrail-CSX merger goes through, as currently structured, in 1998.

JOHN AMERMAN (retired CEO, Mattel): As adviser to new CEO Jill Barad, he'll get $1.1 million in salary, plus a $370,000 ''special achievement'' bonus. Cashed in $18.5 million in options in '96.

PHILLIP ROONEY (ex-CEO, WMX Technologies): Rooney, who left WMX in 1997, will receive a severance package of $12.5 million over five years and work as a consultant on a part-time basis.

JOEL ALVORD (retired chairman, Fleet Financial): After his bank, Shawmut, was acquired by Fleet, he got $15.5 million--including a $1.5 million bonus for ''long-term valuable service'' for 13 months at Fleet.


Updated July 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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