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Fortune

Amanda Gerut

Fortune Brands CEO never officially worked a day—but he’ll get $18.4 million after a massive leadership shakeup

Ill Nelson Peltz Pictet Kenvue

Man in a suit in front of a yellow background (Credit: Photographer: Michael Nagle/Bloomberg via Getty Images)

Amit Banati left a CFO job at a Fortune 500 company, signed a contract to become CEO of Fortune Brands Innovations, and then never officially worked a single day in the role. He walked away this week with $18.4 million in cash.

The epic payday, ostensibly to compensate Banati for what he left behind at his prior job, is the outcome of a remarkable, possibly absurd, confluence of today’s bumper executive compensation packages and activist investor campaigns.

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