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Saretsky gone!


Homerun
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You wont get any argument from me on weather GS's time was up and am fully aware ES was earmarked for this role from the start by the BOD however in the coming weeks the details may be shared regarding the quick departure. If it turns out to be true some including me may end up feeling a little insensitive and pulling their foot out of their mouth. His time was up a long time ago but would not want to see anyone go out like that. Hope for his sake the story is not true and he just left for loosing the confidence of his people and his BOD..

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6 hours ago, Outside Looking In said:

Hope for his sake the story is not true and he just left for losing the confidence of his people and his BOD..

I find that pretty unlikely. He’s not the kind of person to voluntarily throw in the towel.

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Quote

An MBA once said the first 'rule' learned in the program is to negotiate the terms of your departure before any other detail of employment.

Probably learned that from Bryce Mackasey when he was "appointed" President at AC awhile back. :rolleyes:

(Making sure your pension was included in the terms).

 

Edited by Innuendo
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54 minutes ago, DEFCON said:

An MBA once said the first 'rule' learned in the program is to negotiate the terms of your departure before any other detail of employment.

 

Is and should be the first thing anyone working under any open term contract should find out. 

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6 hours ago, Kip Powick said:

How much did he walk away with $$ ?

According to the Westjet 2017 Management Information Circular, page 52 Exectuve compensation for Mr Saretsky under a termination without cause scenario, he gets an $8million golden parachute. 

Highly unlikely the Board would terminate for cause as this would most certainly result in a n ugly lawsuit. Further, termination with cause could make null and void the non compete clauses in his final release. 

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49 minutes ago, better4me said:

According to the Westjet 2017 Management Information Circular, page 52 Exectuve compensation for Mr Saretsky under a termination without cause scenario, he gets an $8million golden parachute. 

Highly unlikely the Board would terminate for cause as this would most certainly result in a n ugly lawsuit. Further, termination with cause could make null and void the non compete clauses in his final release. 

Thanks and I am guessing that does not include any stock he may have??

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2 hours ago, Geminoid said:

Maybe he'll show up at Air Canada soon.

No matter why he left, his contract would not only cover his buyout but most likely a provision that he could not work in the industry for a period of time.

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3 minutes ago, Malcolm said:

Even if he was given the gate, his contract would not only cover his buyout but most likely a provision that he could not work in the industry for a period of time.

Maybe with a merger or buyout but I think in this case he’s a free agent. However all this speculation and bad PR won’t help his job hunt. 

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On 2018-03-11 at 5:38 AM, Super 80 said:

I wouldn't be surprised to see him turn up at Allegiant.

The $8 million PFO cheque includes a do not compete agreement. I believe the territory is North America. So nothing stopping Saretsky from going to Australia, Asia, or South America. 

But if I was Saretsky. I would open up a consulting business in Cancun. Broad band internet to the home and good camera I would take paid spots on News programs. To provide colour commentary to the media. I would also go to YOW any chance I got to speak before senate of HoC issues, especially the pax Bill of Rights. 

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