Santander Now Says It Won't Hire Orcel as CEO

The transcript discusses the complexities of executive job transitions, focusing on deferred compensation and its role as 'golden handcuffs.' It highlights a case involving Andrea Mitchell, who faced a decision about leaving $60 million in deferred compensation to join Banco Santander. The discussion also covers tax guarantees and legal considerations in executive compensation, illustrating the challenges and negotiations involved in high-level job changes.

What is a key consideration for executives when switching jobs?

• The location of the new job

• The size of the new office

• The amount of deferred compensation they might lose

• The number of vacation days offered

What are 'golden handcuffs' in the context of executive compensation?

• A legal agreement preventing job switches

• A metaphor for deferred compensation that ties executives to their current job

• A bonus given for staying with a company

• A type of jewelry given to executives

Why might a company hesitate to cover an executive's deferred compensation?

• It could set a precedent for other employees

• It might not have the financial resources

• It could lead to legal issues

• It might not trust the executive's capabilities

What additional financial guarantee was offered to Andrea Mitchell?

• A guaranteed stock option

• A cap on his tax rate

• A fixed interest rate on loans

• A guaranteed bonus every year

What was Andrea Mitchell's final decision regarding Banco Santander?

• He accepted a different offer

• He decided not to join Banco Santander

• He chose to stay with UBS

• He decided to join Banco Santander