Matt Bodie at PrawfsBlawg has a nice postscript on Icahnâ€™s settlement with Time Warner (click here). Frank Biondi will get a nice postscript too–$6 million. Biondi agreed late last month to serve as Time Warnerâ€™s CEO in the event Icahn was successful in ousting the board. Even though Icahn was unsuccessful, Biondi gets $6 million for the few weeks he helped Icahn. As Biondi put it: “It beats minimum wage, that’s for sure.” See this article for more details.
$6 Million for Biondi
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February 20, 2006
Hereâ€™s some perspective on executive compensation. Frank Biondi, former head of Viacom and Universal, will get a payoff of at least $6 million for a few weeks work with Carl Icahn on the latterâ€™s now-ended bid for Time Warner. Biondi…Loading...