Forbes has a published list of the best and worst CEO's in American corporations. Topping the charts is:
Micron Technology Inc. (Public, NYSE:MU)
Tenure: 12 years
Annualized return during tenure: 5%
Relative to S&P: 94
6-year annualized return: -21.7%
6-year average compensation: $7.8 million
That's right- this man averaged $7.8 million dollars in compensation - all for the miraculous accomplishment of losing 21.7% annualized over the past six years. It's hard to believe that boards, which are supposed to protect the interests of the company - especially shareholders, allow folks like Appleton to keep their jobs.
Anyone with a "Dilbert like" corporate life knows all about company performance reviews. So what happened to this guy's "goals and objectives?" What were his measurement criteria? What was his performance rating? And how in hell did that ever translate into $7.8 million???
Check out the four other high-paid worst CEO's.
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