When Michael Marks stepped down as chief executive of Flextronics, the EMS firm gave him a healthy going-away present: $7.5 million in cash, medical and dental benefits for life for him and his wife, among other goodies.
Did he deserve it? The folks at the Motley Fool think not, pointing to Flextronics’ performance both recent and since 2000. Over the past fiscal year, Flex’s profits fell each quarter, and its forecast is down as well. Worse, a $10,000 investment in Flextronics in 2000 would have been worth just $3,419 as of last March, when the company’s fiscal 2006 ended.
At least the Marks’ dentist can count on getting paid.