Friday, December 03, 2004

Mondavi Chairman to Get $2.5 million Severance Package

Ted Hall, chairman of Mondavi for less than a year will reportedly receive $2.5 million as a severance package after Mondavi is acquired by Constellation. This is being given despite Hall's failed "breakup strategy" that would have separated the "lifestyle" from the "luxury" wine brands, a plan that was considered ludicrous by most of the industry. It is likely that this package was part of the terms of Hall's initial agreement to serve as chairman of the board, but one has to wonder what service he really performed other than creating what ultimately became a distress call that was answered by the buyout offer......

2 Comments:

Blogger Tom said...

If I read the story correctly today, it appears Hall recieved over $6 million in compensationi for 11 months of work.

What happened during that time?

Hmmm...

December 03, 2004 1:42 PM  
Blogger jiminnapa said...

Just wondering if any Mondavi shareholders out there are planning to attend this year's annual meeting: 8:30 a.m. at the Omni Hotel on California Street in San Francisco. Curious if anyone will be asking questions about Ted Hall's compensation...?

December 14, 2004 2:15 PM  

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