One way to get a CEO’s pay cut

Rite Aid Corp.'s main lenders are demanding a proposed **$20 million** payout to Chief Executive Officer Jeffrey Stein be reduced before they fund the company's exit from bankruptcy, according to people with knowledge of the situation.

Explain why he has a job?

In RS’ first bankruptcy, the trustee objected to the honchos who ran the company into the ground receiving a bonus, but the judge approved a bonus anyway, reduced from the initial $2M to only $1.5M. Yes, that is a lot less than the Rite Aid honcho wants to pocket, but the US is far shinier now, that it was way back in 2015.

1 Like

When they are trash they won’t admit it.

That is my same take on MBAs and Ph.D. Never trash? Really?