That’s how Bill Coleman from Salary.com referred to Kirk Arnold, the recently hired CEO at Keane. Less than 16 days after beginning her job as the new Keane CEO, she is set to make approximately $3.6 million. That would equate to $225K per day for her 16 days on the job. The result of the healthy sum is due to Keane’s announced acquisition today by Caritor.
Keane has been an interesting story here in Boston over the past year. Without going into too much detail, Keane’s drama includes the firing of the founders son, who was also CEO, for sexual harassment and some overzealous executives that exploded his weaknesses for personal gain. It was obviously a company in great turmoil over the past year. What makes no sense to me, though, is why a company, obviously in the finishing stages of due diligence, would hire a new CEO in the first place. To Kirk’s credit, she wisely had written into her contact that should would received an handsome severance in such case the company was acquired.
Are boards becoming less and less effective every day or is it just me?