CHARLOTTE, NC - Former Chiquita Brands CEO Ed Lonergan was given a $16.2 million severance when the company was sold to the Cutrale/Safra Group for $1.3 billion in January. 

Cutrale and Safra Groups disclosed the agreed upon sum this week in its 2014 annual report to the SEC. As we’ve previously reported, the severance package was originally expected to be valued at approximately $15.4 million.

According to the Charlotte Business Journal, Lonergan arrived in Charlotte in October 2012 after Chiquita dismissed Fernando Aguirre, which had moved the company to Charlotte. Lonergan had agreed to stay at Chiquita for three years to turn around the company from difficult times.

Chiquita