U.S.
Bankruptcy is a jackpot for CEOs helming failed oil companies - BNN Bloomberg
U.S.

Bankruptcy is a jackpot for CEOs helming failed oil companies - BNN Bloomberg

Published: June 4, 2020  |  5 min read, 914 words
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{{ currentStream.Desc }}Continuous Play:The information you requested is not available at this time, please check back again soon.For Whiting Petroleum Corp. Chief Executive Officer Brad Holly, filing for bankruptcy had at least one perk: a US$900,000 pay raise.Across the oil industry, leaders of failing companies are hitting the jackpot even in the aftermath of COVID-19 lockdowns that destroyed energy demand, crushed prices and threw almost 100,000 rank-and-file employees out of work.Some 35 executives at Whiting, Chesapeake Energy Corp. and Diamond Offshore Drilling Inc. stand to share... READ MORE
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