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Empresas y finanzas

El Paso CEO to get $95 million in exit pay: report


    (Reuters) - El Paso Corp Chief Executive Douglas Foshee does not plan to stay at Kinder Morgan Inc after the pipeline company acquires his employer, a Wall Street Journal report said.

    On Sunday, the two companies signed a deal worth $21 billion in cash and stock to create the largest U.S. natural gas pipeline network.

    CEO Foshee is eligible to receive $95 million as his exit package, if he leaves within two years of an acquisition, the media report said, citing its calculations from a regulatory filing.

    About $69 million, would come from 4.27 million stock options granted over his eight-year tenure at El Paso, the report said.

    El Paso Corp and Kinder Morgan Inc were not immediately available for comment.

    (Reporting by Vidya L Nathan in Bangalore)