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News Link • Economy - Economics USA

Abercrombie & Fitch Pays CEO Millions to Stop Flying

• Time magazine
...in exchange for amending his employment contract and eliminating this perk, Abercrombie will give Jeffries, whose employment contract runs through 2013, a $4 million lump-sum payment.
 
That's right, the CEO of embattled Abercrombie & Fitch, one of the worst-performing brands of the recession, in no small part due to his management decisions, is actually getting paid a sum most people could only dream of just to stop using the company plane as a personal plaything. Who knew corporate self-sacrifice could be so rewarding?

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