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Electronics Production | March 26, 2007

Former Celestica Boss got $5m severance

Canada based EMS-provider Celestica Inc. paid 5.3 million US Dollar in severance to Stephen Delaney after replacing him as CEO last November.
He was unable to make Celestica profitable and reverse its falling share price. His total compensation for 2006 amounted to 6.1 million US dollar, which included a base salary of $687,500 as well as pension, housing and tax equalization payments. But the board did not award him a bonus.

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