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Former Time Inc CEO Joe Ripp Had Stents Put in to Open Clogged Heart Arteries, Will Get $5.2 Million Payout

A few weeks ago, Time Inc's now Former CEO Joe Ripp who is 64, spent a few days in the hospital following what is now said to be surgery to have stents put in to open clogged heart arteries. After the operation, Mr. Ripp said he made the decision that now was the time to step aside and slow down, accelerating what was seen as the Time Inc succession plan which called for company brands President Rich Battista to take over. The change at the top is already complete with Mr. Battista taking control immediately. Even the company's website already list Mr. Battista as CEO. Mr. Ripp who will stay on as Executive Chairman until 2018, will continue to advise and help Mr. Battista on strategy related issues. For his new role, Mr. Ripp will continue to take home his CEO pay of $1.13 million in base salary as well as receive an annual bonus of $1.42 million. This works out to $221,000 a month  a total of $5.2 million.


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Former Time Inc CEO Joe Ripp Had Stents Put in to Open Clogged Heart Arteries, Will Get $5.2 Million Payout Reviewed by Editor on 5:24 PM Rating: 5
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