Chiquita Names Brian Kocher Interim CEO
CHARLOTTE, NC – Saying goodbye is never easy, but $15.4 million should help.
With Chiquita’s acquisition by Cutrale/Safra coming to a close, the company has announced a major leadership shakeup.
The Charlotte Observer is reporting that Chiquita’s Chief Executive Officer Ed Lonergan and Chief Financial Officer Rick Frier will be leaving the company, and Brian Kocher has been named the interim CEO.
According to the Charlotte Business Journal, Lonergan stood to receive approximately $15.4 million if he was let go after the acquisition. That number includes a $1.9 million cash payout along with stock and other compensation.
The Charlotte Business Journal also places Frier at about $4.8 million upon his departure.
It remains unclear if the Brazilian companies will keep Chiquita’s headquarters in Charlotte’s NASCAR Plaza office tower or move it to a new location.
Chiquita was promised about $22 million worth of state and local incentives to locate its headquarters in Charlotte in 2011 on the condition that the company would stay there for at least 10 years. If the headquarters are moved, it is unknown if the government will seek repayment for any incentives that have been paid so far.
Stay tuned to AndNowUKnow as we continue to track Chiquita and any post-merger developments.
