Severance pay is on the rise.
Hilbert built the insurance company, but he also made the mistakes that nearly drove the company under. But Conseco is just one of a litany of companies that rewarded failure with millions in 2000. Add to these examples notorious cases of CEOs leaving after mergers with fat pay for stepping down. Coulter quit a month after the deal closed. Some observers justify these generous packages as necessary, citing everything from the necessity of rewarding lengthy company service to the need to outline a hefty safety net to lure a quality CEO away from another firm.