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Chiquita Offers Incentives for Execs to Move to Charlotte

Chiquita Brands International Inc. is offering incentives to entice its executives to move to Charlotte, N.C., reports The Charlotte Business Journal.

In a securities filing Tuesday, the company spelled out the relocation benefits it will offer key employees who choose to transfer. Those benefits include payment for the costs of searching for a new residence in Charlotte, temporary living expenses and storage fees; payment for assistance in selling the executive’s home in Cincinnati; reimbursement for losses incurred in selling the residence; payment for assistance in purchasing the new residence and for closing costs; payment for moving expenses; and an adjustment to cover income taxes on the relocation expenses.

Executives receiving the benefits would have to remain employed with Chiquita for a full year after the first day of assignment in Charlotte, the Journal says.

The company also outlined a severance plan in the filing for executive officers who are not offered a transfer or who opt not to move to Charlotte.

The fresh-produce distributor announced late last year that it would relocate its corporate headquarters to Charlotte from Cincinnati, bringing about 400 jobs.

Chiquita is receiving an incentive package from the city, county and state worth at least $6 million, a key factor in the company’s decision to move.


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