What entices a CEO to a new job? Why, the same thing that often entices you or me to a new job: money. And U.S. companies are shelling out the cash in droves to entice top CEOs, even putting money up-front more than ever before.
A study from governance-advisory firm GMI Ratings Inc. shows that more companies are recruiting CEOs through “golden hellos,” or multimillion-dollar signing bonuses that the new CEOs receive without working a day. Seventy different U.S. companies have given out these bonuses in 2013, up from just 41 in 2012.