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CEOs are also paying with their job for any big strategic failure. The purchase of a dog called the Learning Co. bit Mattel CEO Jill Barad in the career; she resigned under duress in February. In her farewell speech, Barad described the acquisition's effects as "devastating" to her toy company's "overall performance."
Corner offices don't stay vacant for long; the board organizes a search committee even before the fired CEO departs with a large payout. Lucent is looking for a boss with a technical background and experience in rationalizing businesses. The pay is great, the perks are plentiful, and you get your very own jet. Just don't have the seat pillows monogrammed.