First Solar’s CEO Shows Failure Pays

Declining stock prices and short job tenures doesn’t necessary translate to slim paychecks. Just ask Rob Gillette, former chief executive officer at First Solar Inc. (NASDAQ:FSLR).

After resigning this week from his 15-month job, Gillette took $29.9 million with him and possibly $8.9 million more from a severance package.

First Solar, which is the world’s largest thin-film solar panel maker, saw its stock price drop 60 percent with Gillette at the helm. He started at the company in October 2009 before giving his resignation letter on Monday, Oct. 24. Part of Gillette’s bloated compensation came from a $5 million signing bonus when he left Honeywell International Inc. (NYSE:HON) to join the company.

How does this compare to other executives in the industry? Gillette’s compensation was “at least 19 percent more” than John Watson’s of Chevron Corp. (NYSE:CVX) during that same time, whose company saw a 54 percent stock jump in that period.

  • First Solar, Inc. (NASDAQ:FSLR): The shares recently traded at $53.99, up $1.09, or 2.06%. Its market capitalization is $4.66 billion. They have traded in a 52-week range of $42.50 to $175.45. Volume today was 3,853,692 shares versus a 3-month average volume of 3,524,240 shares. The company’s trailing P/E is 9.20, while trailing earnings are $5.87 per share. About the company: First Solar, Inc. designs and manufactures solar modules. The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules. Get the most recent company news and stock data here >>
  • Honeywell International Inc. (NYSE:HON): The shares recently traded at $53.88, down $0.13, or 0.24%. Its market capitalization is $41.68 billion. They have traded in a 52-week range of $41.22 to $62.28. Volume today was 5,414,104 shares versus a 3-month average volume of 6,908,950 shares. The company’s trailing P/E is 15.57, while trailing earnings are $3.46 per share. The company pays a dividend of $1.33 per share for a dividend yield of 2.50%. About the company: Honeywell International Inc. is a diversified technology and manufacturing company with operations around the world. The Company provides aerospace products and services, control technologies, automotive products, and power generation systems. Honeywell also provides specialty chemicals, fibers, plastics, and electronic and advanced materials. Get the most recent company news and stock data here >>
  • Chevron Corp. (NYSE:CVX): The shares recently traded at $109.64, up $0.38, or 0.35%. Its market capitalization is $219.61 billion. They have traded in a 52-week range of $80.41 to $110.01. Volume today was 10,341,886 shares versus a 3-month average volume of 11,515,900 shares. The company’s trailing P/E is 9.58, while trailing earnings are $11.45 per share. The company pays a dividend of $3.12 per share for a dividend yield of 2.90%. About the company: Chevron Corporation is an integrated energy company with operations in countries located around the world. The Company produces and transports crude oil and natural gas. Chevron also refines, markets, and distributes fuels as well as is involved in chemical operations, mining operations, power generation and energy services. Get the most recent company news and stock data here >>

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