Workforce.com

PeopleSoft's Golden Parachute

February 9, 2004
Craig Conway, PeopleSoft’s CEO, would get a "lavish golden parachute" of about $40 million if Oracle’s buyout goes through, according to TheStreet.com. Sanford C. Bernstein analyst Charlie Di Bona tells TheStreet.com that he’d "be hard-pressed to say that granting this to him at this point really helps the shareholders out." On the other hand, the advisory firm Glass Lewis says that this type of severance is "par for the course." Glass Lewis has, however, given PeopleSoft’s pay-per-performance practices a "D" rating because its high pay for executives is out of whack with how the company’s stock has done.