THIS STILL STINKS, UNITED WAY CEO OF CENTRAL CAROLINA
This still stinks, why doesn’t the United Way ever learn how to properly fire someone?
I couldn’t believe this when I read it, so here’s the article so you can see for yourself:
United Way CEO ousted
August 26th, 2008 by Karen Shugart in News
Ousted United Way of Central Carolinas CEO Gloria Pace King will continue to receive her $290,000 annual salary for two-and-one-third years unless the agency can find her private sector unemployment.
The agency’s executive board voted unanimously this morning to ask chief executive officer Gloria Pace King for her resignation. Thirty-seven of 63 board members were at the morning meeting. She has until Sept. 30 to resign or be fired.
Board chairman Graham Denton at a noon news conference acknowledged King’s compensation — about $1.2 million in salary, bonus and benefits last year — was “out of step” with community expectations.
“It was a culmination of breakdowns at a number of different levels,” Denton said.
Denton said he was not aware of any large local employers threatening to withdraw from the annual workplace giving campaign unless the board took action.
Lord knows how this will shake out. The agency’s annual giving campaign is just gearing up. Clearly the forced resignation is meant to mollify pissed-off donors, but how can you do that if you’re still paying King a six-figure salary? Most United Way donors would be thrilled to get paid that kind of dough to leave their jobs
FROM CFC Treasures:
Questions for the Board:
Since when is a board required to be a guaranteed job placement organization for a fired CEO?
Re-read the sentence, “King will continue to receive her $290,000 annual salary for two and 1/3 years unless the agency can find her private sector unemployment.” I presume they meant “employment” but the main point is so what is her incentive to look for a job? SHE WILL GET MORE THAN ONE HALF A MILLION DOLLARS BY DOING NOTHING. $290,000 TIMES 2.3 EQUALS $667,000!
UNITED WAY STRIKES AGAIN.