Golden parachutes are the norm nowadays. It's expected that when an executive leaves a company, they're probably going to get piles of money.
Things weren't always this way.
Charles Tillinghast Jr., the former president and CEO of TWA, is widely credited as being the first recipient of a golden parachute.
When he was brought on board, creditors were trying to get control of the company away from the idiosyncratic Howard Hughes, who had been removed by the financers a year earlier.
To read the full, original article click on this link: This Man Was The First CEO Ever To Get A Golden Parachute
