IBJNews

Six BrightPoint execs to share $31M golden parachute

Back to TopCommentsE-mailPrintBookmark and Share

Six top executives at Indianapolis-based BrightPoint Inc. are expected to share a $30.7 million payout as part of the company’s planned merger with Ingram Micro Inc.

CEO and Chairman Robert Laikin stands to receive $14.1 million after his company is acquired by the Santa Ana, Calif.-based technology company, according to Securities & Exchange Commission documents released this week.

The roughly $840 million deal, announced July 2, is expected to close by the end of the year.

Plans call for Laikin to receive $6.5 million as a result of accelerated vesting of restricted shares in the 4,000-employee wireless device distributer and logistics company.

Additionally, Laikin would receive $3.5 million from an early liquidation of an executive pension plan.

The agreement also calls for a $4.1 million single payment to the BrightPoint CEO when the deal closes.

Laikin intends to stay on with the company after the merger as a senior adviser to Ingram CEO Alain Monie. The part-time job will net Laikin $900,000 a year and a one-time $2.2 million stock grant.

In addition to Laikin, five other BrightPoint executives are in line for big payouts.

J. Mark Howell, president of the company's Americas region, will get about $6.7 million. Anurag Gupta, president of the Europe, Middle East and Africa regions, will get $3.9 million. Chief Financial Officer Vincent Donargo awaits a $2.1 million payout and Asia Pacific President Bruce Tomlinson will receive $3.4 million.

Howell, Gupta, Tomlinson and Donargo are expected to remain with the merged company in senior roles.

Former CFO Anthony Boor, the sixth executive receiving a golden parachute, left BrightPoint in May 2011. He will receive $566,024 from the executive pension plan.

Company spokesman Tom Ward declined to comment Wednesday on the executives’ compensation, saying previous filings explained the compensation.

“I think all the information [in the filing] speaks for itself,” he said.

BrightPoint was founded in 1989 in Plainfield and has about 1,300 employees in central Indiana.

Shareholders will vote on the merger during a 9 a.m. meeting Sept. 19 at BrightPoint’s corporate headquarters in Indianapolis.

ADVERTISEMENT

  • Brightpoint Screws its stockholder again
    Bob Laikin and his top six management cohorts have paid themselves millions of dollars out of this compnay's cash for many years. The bonuses and the severance package they are paying themselves is nothing compared to the rest of the money they will make from selling their own stock to Ingram Micro. Laikin managed this company for his own personal benefit and never for the stockholders! Let's see the IBJ report the facts of how much Laikin and his buddies are going to rake in from the sale of their shares to Ingram Micro.
  • Hmmm!
    So, 1300 people have jobs and investors made $. What's not to like? Good for them. It shouldn't be THEIR money?
    • Brightpoint
      Roger...remember that these guys gave themselves a 20% pay raise this year and have been taking the cash out for years. This $14mil is just an insult. They been paid this amount many times over and they are not majority holders. So....I on't think much of them and I know some things about the inside that you may not.
    • Really?!?!?
      "The part-time job will net Laikin $900,000 a year and a one-time $2.2 million stock grant." Yup. THAT sounds reasonable.
    • Doesn't seem like very much
      I might be jaded, but a $14mil payout seems like a pretty small nut for a multi-billion dollar Fortune 5 company that you started from scratch. Yikes.
      • Brightpoint
        That soucks. Management rode that company into the ground and now being rewarded with obscene packages....Gordon Gecko was right....screw the stockholders.
      • Bobby Laikin info
        Thought you might find this interesting. Big dollars to be sure.

      Post a comment to this story

      COMMENTS POLICY
      We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
       
      You are legally responsible for what you post and your anonymity is not guaranteed.
       
      Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
       
      No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
       
      We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
       

      Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

      Sponsored by
      ADVERTISEMENT

      facebook - twitter on Facebook & Twitter

      Follow on TwitterFollow IBJ on Facebook:
      Follow on TwitterFollow IBJ's Tweets on these topics:
       
      Subscribe to IBJ
      1. Really, taking someone managing the regulation of Alcohol and making himthe President of an IVY Tech regional campus. Does he have an education background?

      2. Jan, great rant. Now how about you review the report and offer rebuttal of the memo. This might be more conducive to civil discourse than a wild rant with no supporting facts. Perhaps some links to support your assertions would be helpful

      3. I've lived in Indianapolis my whole and been to the track 3 times. Once for a Brickyard, once last year on a practice day for Indy 500, and once when I was a high school student to pick up trash for community service. In the past 11 years, I would say while the IMS is a great venue, there are some upgrades that would show that it's changing with the times, just like the city is. First, take out the bleachers and put in individual seats. Kentucky Motor Speedway has individual seats and they look cool. Fix up the restrooms. Add wi-fi. Like others have suggested, look at bringing in concerts leading up to events. Don't just stick with the country music genre. Pop music would work well too I believe. This will attract more young celebrities to the Indy 500 like the kind that go to the Kentucky Derby. Work with Indy Go to increase the frequency of the bus route to the track during high end events. That way people have other options than worrying about where to park and paying for parking. Then after all of this, look at getting night lights. I think the aforementioned strategies are more necessary than night racing at this point in time.

      4. Talking about congestion ANYWHERE in Indianapolis is absolutely laughable. Sure you may have to wait in 5 minutes of traffic to travel down BR avenue during *peak* times. But that is absolutely nothing compared to actual big cities. Indy is way too suburban to have actual congestion problems. So please, never bring up "congestion" as an excuse to avoid development in Indianapolis. If anything, we could use a little more.

      5. Oh wait. Never mind.

      ADVERTISEMENT