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Astronomer's Andy Byron secured 'fat exit package' after Coldplay kiss cam fiasco. Here's how much he could have gotten
Andy Byron resigned as Astronomer CEO after the Coldplay concert kiss cam showed him cozying up with company HR head Kristin Cabot.
Andy Byron was caught on the Coldplay concert kiss cam in Boston, and was seen cozying up with Astronomer HR head, Kristin Cabot. Byron was the CEO of the company at the time.
The moment the two were shown on the camera, they disengaged, leading Coldplay frontman Chris Martin to comment that either the two were having an affair, or were very shy. Notably, Byron is married to Megan Kerrigan, while Kristin is married to Andrew Cabot of the Cabot family – one of the richest in Boston.
Since their intimate moment went viral, Astronomer has placed the two on leave and has opened an investigation into the matter. Byron, meanwhile, has resigned as CEO. It was reported that Byron was negotiating his exit package with Astronomer, which led to a delay in the company issuing a statement.
How much Andy Byron could get from his Astronomer exit
Notably, while Byron appears to have secured an exit package, the exact details of it are unclear. However, it was reported that Byron was likely making $469,000 to $690,000 per year, apart from bonuses.
American Society of Association Executives (ASAE) noted in a 2023 report that average compensation to association CEOs amounted to over 10 months of base pay, with the median being 8.2 months.
Given Byron's reported salary range, if we take a median yearly base salary of $500,000, then the monthly base pay comes down to $41, 666. As a result, Byron's severance would likely be to the tune of $416,666.
Also Read | Did Megan Kerrigan ‘plot’ Andy Byron’s ‘public exposé’? New theory alleges she knew about Kristin Cabot affair
Notably, Byron was made Astronomer's CEO in 2023.
Apart from the base pay, severance packages normally include payment for unused sick and vacation days, all of which would only bolster the estimated amount Byron may get from Astronomer.
Meanwhile, there is no update yet on whether the company will fire Cabot as well, but Pete DeJoy, the interim CEO, has assured that they remain moving forward with a focus on goals, while acknowledging the kiss cam event has made the company a household name and noting that the experience for most of the employees has been ‘surreal’.
