Current & Former RNDC Employees - Executive Incentive Pay Controversy

RNDC: ~2,770 EMPLOYEES CUT. 5 SENIOR EXECUTIVES UP TO $2.29 MILLION IN PROPOSED INCENTIVE PAY. RNDC entered Chapter 11 bankruptcy in July. Since then, thousands of people who helped build, sell, warehouse, deliver and support this company have been affected as RNDC's operations have contracted. Now another number deserves attention: IN A PROPOSED INCENTIVE COMPENSATION ▶ 5 SENIOR EXECUTIVES TO POSSIBLY RECEIVE ▶ UP TO APPROXIMATELY $2.29 MILLION Put those numbers next to what has happened to the workforce. ~2,770 EMPLOYEES CUT. This ABSOLUTELY deserves to be discussed. Companies are built by more than ownership They are built by their employees sales people Warehouse workers Drivers Office employees Managers People who get up every morning and do the work. I understand that bankruptcy cases can use executive incentive programs to retain leadership and accomplish specific financial or operational targets. And proposed compensation is not the same thing as money already paid. That distinction matters. But so does the other side of this story. Thousands of jobs have disappeared while a proposed incentive program could provide substantial additional compensation to a very small group of senior executives. So I'm not going to tell you what to think. I'm going to put the numbers next to each other: ~2,770 EMPLOYEES CUT. 5 SENIOR EXECUTIVES — UP TO $2.29 MILLION IN PROPOSED INCENTIVE PAY. YOU DECIDE. Was this proposed incentive plan necessary to maximize value during RNDC's bankruptcy? Or after everything that has happened to employees, creditors, suppliers and communities, does it send the wrong message? I'd especially like to hear from current and former RNDC employees. Follow me for continuing coverage of the RNDC bankruptcy and what it means for the wine & spirits industry.