News

UNI Commerce is stunned by the news that a former Arcandor chief executive officer is going to get paid the full salary for a 5 year contract after just 6 months of work. He started working for the crisis striken company in March and after having failed to save the company from insolvency jeopardising 50.000 thousand jobs in Germany alone, he now stands to walk away with €15m.

UNI Commerce considers the use of golden hand shakes and golden parachutes an obsolete business model and certainly the many loyal employees that now face an uncertain future find paying the chief CEO difficult to understand.



Thus, UNI Commerce supports initiatives by leading European politicians currently underway to curb excessive CEO behaviour.





Read more at: www.ft.com

and: http://www.ft.com/cms/s/0/176a93be-54e8-11de-b953-00144feabdc0.html

Also read more at German affiliate Ver.di's homepage:www.verdi.de