Former first daughter Chelsea Clinton will start work immediately as the newest correspondent for the network of Al Sharpton ,Rachel Maddow,and Ed Schultz
Chelsea Clinton, daughter of Bill and Hillary, is 31 years old and just landed a $300,000-a-year job on Wall Street, to be on the board of directors of Hollywood mogul Barry Diller‘s IAC (InterActive Corp), an internet company with over 50 brands across 40 countries headquartered in New York City.
Georg Szalai reports
for The Hollywood Reporter, Oct 5, 2011, the IAC says Chelsea’s “skills
and background complement the existing areas of expertise of other
board members,” but her appointment is “seen by some as a celebrity
Clinton will be paid about $300,000 a year in cash and incentive stock awards.
Steven Davidoff, a commentator for the New York Times’ DealBook, wrote:
““Ms. Clinton has this position only because she is the daughter of
former President Bill Clinton and Hillary Rodham Clinton, the current
secretary of state. This is clearly an appointment made because of who
she is, not what she has done, one that defies American conceptions of
meritocracy. The real question is whether Ms. Clinton can act
independently and provide value to the IAC board. While there are many
doubts on that score – and while Ms. Clinton clearly did not earn this
position – she can still demonstrate that she is up to the task.”
Davidoff also highlighted that IAC’s board is full of Diller friends,
including former Walt Disney boss Michael Eisner, Warner Music chairman
Edgar Bronfman Jr. and Diller’s stepson. In fact, the corporate
governance research firm GovernanceMetrics International has cited
governance concerns about IAC’s board.
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