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Christie Hefner gets $2M severance from Playboy; Signs Non-Compete Agreement

Former Playboy Enterprises Inc. CEO Christie Hefner, who stepped down from the entertainment and publishing company’s top job effective Jan. 31, received a severance payment of $2 million, the company noted in a regulatory filing.

In addition, Playboy noted, Ms. Hefner received a one-time grant of 30,000 Class B common shares which, based on the mid-day Thursday trading price of $1.69 a share, are currently valued at just over $50,000.

As part of the separation agreement she reached with Playboy, the filing says, Hefner — who is the daughter of founder Hugh Hefner and served as CEO for two decades — agreed not to compete with the company for 12 months.


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