John Thain - serial job hopper? Monday, September 15, 2008
Image via Wikipedia Some employers take exception to potential job candidates who they deem to be job hoppers if they have moved companies every few years. I mention this only because I am slightly worried for John Thain, Merrill's CEO who looks likely to be seeking new employment soon for the second time in under 18 months.
Still, there will be something to ease any discomfort or difficulties he may face. According to the New York Times, with this deal, his employment contract change of control clause will be triggered, and he will exit Merrill after merely ten months on the job with $25-million in total compensation, which included a $15m joining fee. It would have been more but most of his options are worthless.
Luckily for him he also left NYSE with just under $20-million not quite a year ago. Nice work/unemployment if you can get it.