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Chapter 4. Jets, Parachutes, and Stealth... > Red Flag 10: Executives Retire with ...

Red Flag 10: Executives Retire with Huge Packages, Including Costly Perks

We have already seen the sweet deal that Jack Welch initially got when he retired from GE. Well, some others, who ran much smaller companies, are not that far behind. Take Terence Murray, who had certainly earned a comfortable retirement after building FleetBoston Financial Corp. into the seventh-largest U.S. bank through 80 acquisitions in the two decades he was at the helm. However, the generosity of his retirement gift means that it is likely to be more than just comfortable.


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