Tessera Technologies Incentivizes CEO to Pursue the Possibility of a Spin-Off
I don't know why I still follow TSRA... I've been out for years now and see virtually no reason to enter anymore, but I still monitor it occasionally and this kind of announcement just really aggravates me in general so I'm gonna stick my two cents in........ What the hell???? The Board of Directors thinks it's necessary to incentivize the CEO further TO DO HIS JOB????? It's this kind of corporate largesse and ridiculous self rewarding of insiders by insiders that really makes you wonder about corporate governance or lack thereof. So in other words, if Young does his job, something he should be fired for if he doesn't do instead of being "incentivized" further for just plain doing, the BOD will give 1% of your company to him at no risk or cost? Gimme a break. This kind of thing really irks me.
SAN JOSE, Calif.--(BUSINESS WIRE)-- Tessera Technologies, Inc. (NASDAQ:TSRA) (the "Company") today announced a unanimous agreement by the Company's Board of Directors and its Compensation Committee to amend its compensation arrangement with Robert A. Young, president and chief executive officer, giving him incentive to pursue the possibility of a business segment spin-off, which is a key strategic alternative within the Board's long-term plan.