Hotmail
GM close to offering ex-CEO Wagoner exit deal
Report: Ex-exec could be eligible for pensions worth around $20 million
 | Interactive |
 | 10 cars we loved to hate Some cars are so well-designed that they are almost art. These aren't. Here are 10 cars from the past 50 years that redefined the word 'ugly.' |
Most popular |
| |||||
 | Latest auto videos |
 New seatbelt to provide extra protection? Nov. 7: Ford’s new restraint is designed to provide additional security for the passengers who most commonly sit in the back: elderly people, and children. CNBC’s Phil Lebeau reports. |
 |
Banks face Feb. 1 deadline on compensation The nation's biggest banks face a February deadline for submitting employee compensation plans to the Federal Reserve, according to people with knowledge of the process. |
As General Motors prepares to exit bankruptcy, the automaker looks close to offering its former CEO and Chairman Rick Wagoner an exit package to formally leave the company, according to news reports.
Wagoner, who almost four months after his ouster is still employed by GM, will learn “very soon” when he’ll be cut loose from the company and what he’ll receive as an exit package, according to a report in The Wall Street Journal, citing an Obama administration official.
The former executive could be eligible for pensions that are worth around $20 million, according to the Journal. The amount includes benefits accumulated over Wagoner’s 32 years at GM.
Wagoner remains on the GM payroll and makes $1 a year. He is receiving the same benefits afforded to him during his tenure as chief executive, the paper said, and GM is keeping him on staff as the government decides on pay and benefit criteria for the company’s top officers.
- Discuss Story On Newsvine
-
Rate Story:
View popularLowHigh - Instant Message
MORE FROM AUTOS |
 Autos Section Front |
| Add Autos headlines to your news reader: |
Sponsored links
Open an Account Online Today! $7 Trades & Powerful Trading Tools.
www.scottrade.com
Resource guide