Business Services Industry
Small deal, big payout for CEO; SSA chief is eyeing $44-million payday.(SSA Global Technologies Inc.'s Michael Greenough)(Infor Global Solutions to acquire)
Crain's Chicago Business, June, 2006 by Singh, Shruti Date
Byline: SHRUTI DATE SINGH Michael Greenough is hardly a big hitter in the tech industry, but the $44 million he'll get for selling his small Chicago software firm puts him in the major leagues for CEO payouts. The figure represents Mr. Greenough's profit on restricted stock awards and options as part of the deal to sell SSA Global Technologies Inc.
to Atlanta-based Infor Global Solutions for $1.36 billion. His payday will be more than CEO Michael Capellas' for the sale of MCI Inc. to Verizon Communications Inc. in January-a transaction nearly seven times the size of the SSA sale. "It is a very high payout given the CEO's tenure and size of the company,'' says Paul Hodgson, a senior research associate at the Corporate Library. Mr. Greenough became CEO of...
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