Altice-SFR, a retirement bonus of that is wrong

You have loved Thierry Morin, Valeo), Patrick Kron (Alstom), Chris Viehbacher (Sanofi), Serge Tchuruk (Alcatel-Lucent), Antoine Zacharias (Vinci), Bruno Lafont (Lafarge). All these CEOS, and a few others, have previously been pinned by the government, their shareholders, the financial markets Authority – and, more rarely, the Medef – for the exorbitant amount and/or the unjustified nature of their severance benefits in the light of their results. You are going to appreciate Michel Combes, number 2 u.s. operator Sprint since January 2018.

The former director-general of Altice had been landed in November 2017, while the market price of the group’s telecom and media had already dropped almost 40 %. He left with a bonus of 6 million euros, revealed to The World, Thursday, 5 April, citing the annual report of the company, Patrick Drahi.

“The conditions laid down contractually ”

It all adds up to a sum of 3.4 million, corresponding to his salary in 2017 with premiums. “It is a part of the relevant contractual terms, including a variable part is reduced compared to the initial conditions “, said Altice, who was interviewed by the AFP.

A considerable amount when one considers that Mr. Combes stayed only two years at the helm of SFR (in a full restructuring after its merger with Vivendi). Bis repetita. Because after two and a half years (2013-2015) at the head of Alcatel-Lucent, which were completed by the sale of the oem phone the Finnish Nokia, he had to leave with a golden parachute of $ 13.7 million euros (shares) voted by the board of directors.

Mr. Combes was then pleaded that he had saved the ex-flagship French industrial. Without convincing the public opinion, unions, and the government of Valls, who had obtained that the bonus may be reduced to 7.9 million.

The president of the Medef, Pierre Gattaz, had then determined that it is necessary to refuse these bonuses ” when it…

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