Max Wolff, senior analyst at Greencrest Capital, describes Blackberry's chief executive golden parachute as "a big payout on a dismal run."
Both shareholders and the general public will have a hard time swallowing the generous "golden parachute" in place for Blackberry CEO Thorsten Heins if he loses his job after the expected sale of the struggling company, Max Wolff, chief economist and senior analyst with Greencrest Capital, told CNBC.
Heins will reportedly pocket a $55.6 million payout, including a "special performance bonus" tied to the launch of the failed 10Z series of phones, which drove a nearly $1 billion loss for Blackberry in the recent quarter.
"This looks like a story of people making sure they're taken care of, even if the company, the employees, the area where in which the company does its manufacturing, its partners and the public are in no way taken care of," Wolff said. "So, it's a bit salt of salt to the wound, but I think bigger story here is that it's a big wound."
Wolff said the Blackberry story was a case of "catching a falling knife."
"It looks to me like a story that gets worse by the minute," he said.
-By Craig Giammona, CNBC