AGCO CEO Receives $9 Million Additional Reasons to Stay

According to a recent report in the Atlanta Business Chronicle, The AGCO board of directors’ compensation committee has approved a one-time award of 144,611 restricted stock units, worth nearly $9 million to Martin H. Richenhagen, chairman, president and CEO, the company said in a filing with the Securities and Exchange Commission.

Reason for the Award:  “to encourage him to delay his retirement until the end of 2020 and, in the interim, to oversee an orderly succession process, the integration of recent acquisitions, the launch of new products and the execution of near-term strategic milestones.”