this post was submitted on 13 Jan 2025
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Sonos CEO behind disastrous app exits with $1.9 million severance (arstechnica.com)
submitted 1 day ago by some_guy@lemmy.sdf.org to c/technology@lemmy.world
62 comments fedilink hide all child comments
 

Spence will receive a cash severance of $1,875,000, per SEC filings. He will also get $7,500 per month and serve as a Sonos board advisor until June, and his unvested shares will vest.

If I was this bad at my job, I'd be shitcanned with no compensation. It's pretty cool how we reward failure at the highest levels.

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[–] deegeese@sopuli.xyz 54 points 1 day ago (2 children)

$1.8M is pretty small as golden parachutes go. Was probably the smallest amount allowed under his employment contract which avoids a lawsuit.

[–] RobotZap10000@feddit.nl 100 points 1 day ago

To paraphrase OP's body text, if I did a shitty job I wouldn't be receiving $1.9M checks in the mail.

[–] COASTER1921@lemmy.ml 7 points 1 day ago

Absolutely this. I've never seen a CEO golden parachute anywhere near being under $2m before. To most large company CEOs $2m is pretty much nothing relative to their regular stock options.