Friday, March 18, 2011

YRC Worldwide restructuring officer Lamar gets $80,000 a month

The leader of YRC Worldwide Inc.’s efforts to rebuild its finances is receiving $80,000 a month and will get a $500,000 payday if he brings the company in for a successful landing, as defined by the company’s board.

Chief Restructuring Officer John Lamar, whom the board assigned to the position in November and who has been lead director since May, also will continue to receive his regular compensation for sitting on the board. The assignment is good for a year.

Jim Kissinger, executive vice president of human resources, detailed the terms in a letter to Lamar, dated Nov. 8, which was included in the company’s annual report. Full Story......

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