In January, Time Warner Cable appointed Robert D. Marcus was appointed as their new CEO. 6 weeks later Time Warner Cable was sold to Comcast for $45 Billion. As part of Robert D Marcus' contract if Time Warner Cable was sold during his tenure as CEO he would receive a little severance pay, to the tune of $80 Million bucks. For those of you who don't want to do math on a Friday, that works out to around $1 Million bucks a day for severance, not bad for 6 weeks of work. The NY Times has the full story.
Robert D. Marcus became chief executive of Time Warner Cable at the start of the year. Less than two months later, he agreed to sell the company to its largest rival, Comcast, for $45 billion.
For that work, he will receive nearly $80 million if the deal closes, a severance payment that amounts to more than $1 million a day for the six weeks he ran the company before agreeing to sell.