BB CEO could leave with $55.6M

BlackBerry head Thorsten Heins could get up to $55.6 million in severance if he is fired, reports the Toronto Star.

Heins may be wondering about his job, as financial services company Fairfax may soon be buying the tech company.

Read: Fairfax-led group to buy BlackBerry for US$4.7 billion

His golden handshake is in the company’s securities filings.

Of the $55.6 million severance, $7.5 million would be salary and bonus, $72,000 would be benefits and retirement savings and $48 million would be equity awards.

BlackBerry posted a $995-million Q2 loss and plans to cut 4,500 employees.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.