BlackBerry Interim CEO John Chen Salary Structure
Blackberry fired Thirsten Heins few days ago and was replaced by John Chen as interim CEO pending the time a permanent person takes the affairs of CEO for BlackBerry.
However, the salary given to John Chen looks like BlackBerry already concluded that Chen would be the possible person to remain as CEO.
Thorsten Heins left BlackBerry with an estimated worth of $22 million but John Chen would get more than that if he was to leave according to the salary structure listed below.
Salary: $1 million
Bonuses: $2 million
Stock value for 5 years: $85 million
Restricted shares available over time: $13 million.
These values are staggering, however, for someone with so much experience and seeing how he transformed Sybase to a huge company, BlackBerry needs to be able to attract John Chen as much as possible, hoping he can turn the company around for good; and if he can't and was fired without reason, he receives $6 million in salary as a parting payment.
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