Perqs for the Execs keep on coming
April 17, 2009
From Michelle Leder:
In office towers across Manhattan, there are more than a few former chief executives whose ex-employers continue to pay for their office space and secretarial services.
Among the better-known examples are Charles O. Prince III, who once led Citigroup, and E. Stanley O’Neal, previously head of Merrill Lynch.
Now, Richard D. Parsons, the former chairman and chief executive of Time Warner, joins this esteemed group. Judging by the company’s recent proxy, Mr. Parsons’ new office appears to be a very nice space.
In the filing, Time Warner disclosed that it would spend $776,000 this year to provide Mr. Parsons with office space, secretarial services and furnishings “comparable to that which he was provided during his employment.”
Michelle’s website that keeps us informed of such attrocities is footnoted.org.
