The outgoing chief executive officer of Cook Inlet Region Inc., an Alaska Native regional corporation, will receive $890,000 in severance pay, The Anchorage Daily News reports.

Carl Marrs will be paid a portion of his base salary of $355,000, his annual bonus for the year, if any, and a total of $890,000 in severance payments. The deal was negotiated last week.

Marrs led CIRI through a time of prosperity but profits and revenues fell in the last two years. He said he was resigning to stop infighting from affecting the corporation's business.

Get the Story:
Marrs to get $890,000 payout (The Anchorage Daily News 8/13)
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Relevant Links:
Cook Inlet Region Inc - http://www.ciri.com

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