Below is the SEC Form 8-K; it is only one operative paragraph long, but it speaks for itself. His departure takes essentially immediate effect (December 31). Very unlike a planned retirement.
Nope, this is not typical of a voluntary departure -- with $1 million to buy a non-compete, and separation pay, on top of all the vested retirement benefits. Beyond that -- we will not say. Here's the bit:
. . . .Mr. Adam Schechter, Executive Vice President and President, Global Human Health, will step down from that position, effective December 31, 2018. Pursuant to an agreement (the “Agreement”) between the Company and Mr. Schechter, he will thereafter act as a special advisor to the Chairman and Chief Executive Officer, after which he will leave the Company. In connection with the restructuring and elimination of his position, Mr. Schechter will be eligible for benefits under the Company’s U.S. Separation Benefits Plan. Subject to his execution of a general release of claims and continuing compliance with certain restrictive covenants, these benefits provide 78 weeks of separation pay as well as certain health and welfare benefits. In addition, under the Agreement, Mr. Schechter has agreed to a one-year non-competition agreement, in consideration for which the Company will pay Mr. Schechter $1,000,000. . . .
Now you know. His position, officially, was eliminated. Odd.
Onward, on a cold, clear night -- had a charity gig tonight, so I am tardy with this one.
नमस्ते
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