Fascinating -- CEO Fred Hassan's son (Daniel) runs a Massachusetts-based nascent web-media "clickable TV" company -- I wonder whether Dad is the source of some (most?) of the initial $15 million equity financing (or the now-pending additional $4 million)? This item, per Mass HiTech, a few minutes ago:
. . . .According to [the son, Daniel] Hassan, business operations will be split between New York and Boston, with New York starting off as a smaller operation. “Right now we are just going to look at it as a sales office and outreach office,” Hassan said. Backchannelmedia employs 29 workers.[Daniel] Hassan, who has been chairman of the board as well as co-CEO since 2007, became sole CEO as of June 15. Hassan is son of Fred Hassan, CEO and chairman of New Jersey-based drug giant Schering-Plough Corp. . . .
Of course, clickable, at right, is Dad's 'chute estimate-graphic. Schering-Plough CEO Fred Hassan negotiated a "special grandfathering" of stock options, and other forms of equity compensation, for himself, and himself alone, in the event of a Change of Control, back in 2003, when he signed on -- here's his full employment agreement (the grandfathering is in Section 3(j) -- on page 4).
No comments:
Post a Comment