General Electric executive John Krenicki to be paid $89,000 a month not to work

Mr Krenicki, 50, is leaving GE after the US company announced the energy division he controls is being broken into three new businesses.

He will also receive a supplementary pension allowance when he reaches 60 that could double the size of his $18m pension pot, as well as a cash bonus of at least $2.5m for his work at GE this year, and the vesting of share options and long-term performance awards worth $14m.

Despite his package, however, Mr Krenicki has already agreed to join private equity firm Clayton, Dubilier & Rice at the start of next year,