Well Fargo's Stumpf may envy exit pay of other CEOs

John Stumpf, Chairman and CEO of the Wells Fargo & Company
Mark Wilson | Getty Images
John Stumpf, Chairman and CEO of the Wells Fargo & Company

Wells Fargo CEO John Stumpf is retiring with a nest egg that would make any retiree envious.

At $134 million, the 63-year-old's retirement fund will pull in $3.6 million a year if he bases his planning on living to age 100 before investment income or inflation are taken into account.

Having spent 34 years at Wells Fargo, Stumpf is retiring immediately from the CEO position, which he assumed in June 2007.

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He leaves under a cloud, a scandal in which employees opened as many as 2 million accounts in the names of customers without their authorization. More than 5,000 Wells Fargo workers were fired, but not Stumpf or other senior management. Stumpf's attempt to explain the debacle before a Senate committee didn't help matters.

Because it is considered retirement, he didn't get the lavish severance packages that have gone to other CEOs who were leaving under a cloud. He had no golden parachute.

If he did have one, he could be leaving with an even bigger fortune.

Besides whatever retirement benefits he has accumulated over the years at the helm of Wynn Resorts, founding CEO Stephen Wynn would get a payout of $358.1 million if his board terminates him without cause or a change of control, such as in a merger, according to filing checked in August.

David Simon of real-estate firm Simon Property Group stands to walk with $302.4 million and Leslie Moonves of CBS would get $225.3 million.

Some cash in. When Viacom gave the boot to CEO Philippe Dauman, he stood to make $84 million on the way out, according to executive pay tracking firm Equilar.

If Yahoo succeeds in selling its core assets to Verizon, Yahoo CEO Marissa Mayer stands to get about $50 million as part of her package.

It's actually unusual that Stumpf didn't have an exit package in place. Equilar found that 91% of golden parachute packages it studied in 2015 passed.