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Maybe it’s something in the water? A couple of days ago, we reported the multi-million dollar departure of an executive from a Bermuda-based energy company. Today’s post – about a different company headquartered on the tiny island – also involves a send-off worth millions of dollars. On August 26, AXIS Capital Holdings Ltd. (AXS) filed [...]
Just over a month ago, Energy XXI (Bermuda) Limited (Nasdaq: EXXI) announced a management realignment. Headquartered in Bermuda with an office in Houston, the company’s stated goal is to “acquire and exploit producing oil and gas reserves,” primarily in the Gulf of Mexico. Characterized as a “streamlining of the organization,” the management realignment included the [...]
When an executive leaves a company abruptly eight months after he signed a new employment agreement, it catches our attention. On New Year’s Eve, 2009, Long Beach-based Molina Healthcare, Inc. (MOH), a managed health care company that provides healthcare to recipients of government assistance, entered into Amended and Restated Employment Agreements with three of its [...]
More than two months before announcing that General Motors Co. intended to buy the subprime auto lender, AmeriCredit (ACF) made a slew of changes to employment agreements with its top officers: Extending non-compete clauses for some, sweetening severance for others. The bare bones of the changes were mentioned in a single paragraph at the end [...]
While reading the proxy that PSS World Medical, Inc. (PSSI) filed July 14, we discovered an interesting transition that got little press when it occurred, other than by a couple of publications in Florida. The event itself seemed surprising, in that on January 27, 2010, Jacksonville, Florida-based PSS World Medical released FY 2010 3rd quarter [...]
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