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Bankruptcy is a Jackpot for CEOs Helming Failed Oil Companies

BNN Bloomberg

For Whiting Petroleum Corp. Chief Executive Officer Brad Holly, filing for bankruptcy had at least one perk: a US$900,000 pay raise. Across the oil industry, leaders of failing companies are hitting the jackpot even in the aftermath of COVID-19 lockdowns that destroyed energy demand, crushed prices and threw almost 100,000 rank-and-file employees out of work...

Mentions: Pay Raise Chapter 11 stock options