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MANAGEMENT COMPENSATION, RESTRUCTURING, AND VALUE CREATION AT UNION CARBIDE CORPORATION
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Gary L. Caton 
Abstract
The paper is a case study of the Union Carbide Corporation during a very tumultuous period. In 1979, the demand for several of UCC’s chemical products either was in decline or soon would be which contributed to a severe decline in stock value. During this period, management compensation plans evolved to more closely align management with shareowners. The Bhopal tragedy and a subsequent unsolicited takeover attempt tested management, and the new compensation incentives, ultimately leading to a more focused and more highly valued company.
Keywords: Management Compensation, Restructuring, Asset Sales, Bhopal
How to cite this paper: Caton, G. L. (2009). Management compensation, restructuring, and value creation at union carbide corporation. [Special issue]. Corporate Ownership & Control, 6(3-5), 561-569. https://doi.org/10.22495/cocv6i3sip5
