Washington: As the mobile manufacturing company Blackberry is looking at options to revive the business by selling it off to other hands, its CEO is expected to receive a huge payout if he is to lose his job.
CEO Thorsten Heins is expected to receive as much as 55.6 million dollars if the company is sold and would receive 48 million dollars in equity awards along with 7.5 million dollars in compensation for his salary and bonus under the change of control provisions in his contract.
According to CBS News, Blackberry would pay 72,000 dollars in benefits and retirement savings.
The report said that Heins presided over the debut of two new handsets in January, the Z10 and Q10, which he promised would turn around the fortunes of the company but it failed to amuse customers leading the company to announce that a sale was an option to be considered under a strategic review.
First Published: Saturday, August 17, 2013, 14:02