Craig Landau, chief executive officer of bankrupt opioid maker Purdue Pharma LP, will get a much-reduced bonus this year after months of fighting with creditors.
U.S. Bankruptcy Judge Robert Drain approved a $1.3 million bonus for Landau in a Friday hearing. That’s less than half of what Purdue planned on paying him. The company agreed to slash the payout by 63%, court papers show, and Landau will receive the sum in two disbursements this year rather than one in the spring.
Source: Purdue Pharma via Business Wire
Landau agreed to “cuts and changes far deeper than any other employees at Purdue” and the ...