The Compensation Committee of iHeatMedia’s Board of Directors has approved the terms for 2018 quarterly bonuses for CEO Bob Pittman, COO Richard Brsller and General Counsel Robert Walls. If performance goals are met Pittman will be eligible to earn a quarterly bonus for each of the second, third and fourth quarters of $2,325,000. Bressler’s bonus would be $1,325,000. Walls would receive $225,000. The bonuses are subject to approval by the U.S. Bankruptcy Court for the Southern District of Texas.
Yes. I read the last line of the report.
Whether they are granted the bonus or not is irrelevant. They drove it ground. Fired a ridiculous number of people, who had no responsibility in decision making. Kept THEIR jobs. Took the group into bankruptcy and THEN asked for bonuses…..based on performance.
They DIDN’T “drive it into the ground.” The Mays family did. And they didn’t “ask” for bonuses. They are simply “eligible” for bonuses. Do you understand the difference between being GRANTED a bonus and being ELLIGIBLE? Two different things. And finally any bonuses must be approved by the bankruptcy judge. So they’re a long way from getting any money.
Did anyone who commented read the very last sentence in this article?
It takes huge balls to do such an abysmal job that you have to fire hundreds of staff and hide in bankruptcy….,and ask for a quarterly bonus averaging 1.3 million.
Bob, Richard, and Robert, do the right thing and give it back. Yea, fat chance!
How can iHeart talk about bonuses when they are under chapter 11? They still don’t get it!
Salespeople get tossed burned and fired for not making unrealistic goals and they get a bonus for bankruptcy?