Carson Pirie ‘Parachutes’ Disclosed: Three Carson Pirie...

Carson Pirie ‘Parachutes’ Disclosed: Three Carson Pirie Scott & Co. executives will receive “golden parachute” severance payments totaling nearly $9.5 million should the company change ownership, according to a filing with the Securities and Exchange Commission revealed in a published report. Carson’s, which has been trying to fend off a bid by Milwaukee-based P.A. Bergner & Co., also said in a proxy statement filed with the SEC that the three executives were granted stock options within days of Bergner’s first public bid for the 137-year-old Chicago-based retailer, the Chicago Sun-Times said. Carson’s Chairman Peter S. Willmott would be paid $6.74 million, Senior Vice President Bruce R. Rissmiller would get $1.65 million, and Senior Vice President Susan Congalton would get $1.08 million in cash should the company change ownership, the proxy statement said.