I think the "CEO tripled his salary" story is bogus.
I've seen actual retractions on it. It's not one CEO.
I think the essence of it is the union is deliberately muddling
it up by using two CEOs among other things.
One while the company was entering bankruptcy.
The other when that CEO left, the company emerged
from bankruptcy and they hired a new turn-around CEO.
That salary and plan was approved by a bankruptcy
Here is an example:
"CORRECTION: An earlier version of this story incorrectly conflated
the former Hostess CEO, Brian Driscoll, whose salary was reportedly
tripled, with the current CEO, Greg Rayburn. For a detailed look at
who did what, here’s Fortune/CNN:
Even as it played the numbers game, Hostess had to face chaos in the
corner office at the worst possible time. Driscoll, the CEO, departed
suddenly and without explanation in March. It may have been that the
Teamsters no longer felt it could trust him. In early February,
Hostess had asked the bankruptcy judge to approve a sweet new
employment deal for Driscoll. Its terms guaranteed him a base annual
salary of $1.5 million, plus cash incentives and “long-term incentive”
compensation of up to $2 million. If Hostess liquidated or Driscoll
were fired without cause, he’d still get severance pay of $1.95
million as long as he honored a noncompete agreement."
From the above, it sure doesn't look out of line for compensation
of a CEO that's running a $2bil company.
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