Investors and analysts are still debating whether the biggest gold mining deal ever is good for acquirer Newmont Mining, but the CEO of the target company could end up millions of dollars richer.
David Garofalo is eligible to collect at least $6.9-million, including as much as $4.6-million in severance and $464 000 in pension and benefits if he’s dismissed as CEO of Goldcorp as a result of the planned merger, according to data compiled by Bloomberg. He also holds shares worth about $1.8-million at the offer price.