Atari Bribes Interim CFO to Stay for a While

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Arturo Rodriguez has been serving as Atari's Vice President and Chief Financial Officer since May of 2007. Given the restructuring and uncertainty in Atari's business, Atari has agreed to pay Rodriguez a substantial bonus to continue to work for a short time.
On January 29, Atari entered into an agreement to pay Rodriguez a retention bonus (a large payment to get him to stay with the company) so that he will stay until the company's annual report for the fiscal year ending March 31, 2008 is filed. The agreement says that Rodriguez will get a bonus equal to three month's salary for staying until July 31, and (even if he chooses to leave the company) will receive a severance package of 26 weeks of pay and benefits.

Essentially, it sounds like Rodriguez either wanted to leave or was worried he'd be fired as soon as he did his work. To convince him to stay and finish the annual report, Atari is throwing a lot of money at him.

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This page contains a single entry by Editor published on February 4, 2008 3:50 PM.

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