Fired AOL Ad Man Was Paid $60,000 Per Day
Gregory Coleman was hired in February to run AOL advertising network Platform A. Two weeks later, the CEO who hired him was out; two months after that, Coleman's own departure was announced. But at least AOL made it worth his while.
Business Insider hears Coleman netted $3 million severance for his 10 weeks work for the company. That's about $60,000 per workday, assuming he didn't come in on weekends.
Maybe that sounds like yet another example of outrageous executive compensation. But we don't begrudge Coleman his money: He fell victim to a similar palace coup at Yahoo when yet another of his bosses was replaced. Kudos to Coleman for being smart enough to hedge his bets this time around with a severance deal, which he presumably insisted on up front.
As George W. Bush famously said, "Fool me once... shame on... shame on you... Fool me — You can't get fooled again."