Ethically Sound Golden Parachutes

“DuPont Adopts Poison Pill” states that “DuPont adopted a severance plan mandating that in the event of a change in control of the firm, top managers will get a lump sum payment of twice their annual salaries and bonuses should they be terminated. DuPont CEO Ellen J. Kullman will get three times her annual compensation” (C&EN, Aug. 19, page 14).

What about the janitors? And more apropos of the readers of this publication, what about the chemists? Rather than look out only for themselves, a more honorable and ethical course of action would be for DuPont to require that the dollar equivalent of these golden parachutes be placed in a fund to aid all employees whose jobs might be terminated as a result of a hostile takeover.

William M. Phillian
Woodland Park, N.J.