First American has terminated CEO DeGiorgio's employment without cause, allowing him an $18.6 million severance package after his arrest for alleged assault on a cruise. The payout comprises severance, equity vesting, and retirement funds. DeGiorgio contends he wasn’t the aggressor in the incident linked to a passenger's comment about his wife. Had he been terminated for cause, he would have forfeited his severance. The company has appointed CFO Mark Seaton as the new CEO, marking a leadership change after DeGiorgio's brief tenure since 2022.
First American's decision to terminate DeGiorgio without cause allows him to receive an $18.6 million severance package despite legal controversies surrounding his arrest.
Following DeGiorgio's ousting, First American appointed Mark Seaton as the new CEO, highlighting a leadership transition after DeGiorgio's brief tenure since 2022.
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