Executive Compensation

Public won't like BlackBerry CEO's payout: Analyst

Craig Giammona
Analyst knocks BBRY executive payout

Both shareholders and the general public will have a hard time swallowing the generous "golden parachute" in place for Blackberry CEO Thorsten Heins if he loses his job after the expected sale of the struggling company, Max Wolff, chief economist and senior analyst with Greencrest Capital, told CNBC.

Heins will reportedly pocket a $55.6 million payout, including a "special performance bonus" tied to the launch of the failed 10Z series of phones, which drove a nearly $1 billion loss for Blackberry in the recent quarter.

(Read more: Study finds higest-paid CEOs in US are often fired or fined)

"This looks like a story of people making sure they're taken care of, even if the company, the employees, the area where in which the company does its manufacturing, its partners and the public are in no way taken care of," Wolff said. "So, it's a bit salt of salt to the wound, but I think bigger story here is that it's a big wound."

Wolff said the Blackberry story was a case of "catching a falling knife."

"It looks to me like a story that gets worse by the minute," he said.

By Craig Giammona, CNBC

Related Tags