executive compensation news stories on Newser

Citi Shareholder Revolt Bad News for Other Big Banks

Evann Gastaldo — Thu, 19 Apr 2012 08:16:05 CDT

Now that shareholders have rejected Citigroup CEO Vikram Pandit's $15 million pay package, all eyes are on Wells Fargo and Bank of America, both of which are holding their own "say on pay" votes in the coming weeks. The votes are required as part of post-financial crisis financial reform laws,...

Number of CEOs Making $50M+ Climbs

Evann Gastaldo — Thu, 22 Mar 2012 08:07:05 CDT

Two more executives last year joined what USA Today calls the "$50 Million Club," the group of executives who—you guessed it—make $50 million or more per year. Annual proxy statements filed this week show that compensation for Occidental Petroleum's Ray Irani was valued at $80.4 million; Gilead...

MF Global Execs to Still Get Bonuses

Kevin Spak — Fri, 09 Mar 2012 07:06:00 CST

MF Global may have gone down in a ball of flames, but its chief operating officer, chief financial officer, and general counsel are all likely to get six-figure performance-based bonuses anyway, the Wall Street Journal reports. All three execs stuck around after the crash to help trustee Louis Freeh deal...

Chrysler CEO Turns Down Pay for Second Year

Rob Quinn — Thu, 08 Mar 2012 04:17:00 CST

Chrysler made a $225 million profit last year but its CEO didn't get a penny of it, a regulatory filing reveals. Sergio Marchionne, widely credited with turning around the company's fortunes after its bankruptcy in 2009, declined a salary and bonus for the second year in a row last year,...

Inside Bankers' 'Malaise' Over Slashed Bonuses

Evann Gastaldo — Sat, 03 Mar 2012 19:00:05 CST

Wall Street bankers received smaller bonuses this month, and it is really hard for them. If you're having trouble dredging up any sympathy, perhaps that's because you just don't understand what it's like to be in the 1%: "People who don’t have money don’t understand the stress," one Marks Paneth...

Taxpayers Have Paid Millions to Defend Fannie Execs

Kevin Spak — Wed, 22 Feb 2012 11:28:43 CST

The US government has sunk almost $100 million into defending a trio of ex-Fannie Mae executives accused of securities fraud, including $37 million since the government took control of the firm, according to a regulatory analysis released today. The Federal Housing Finance Agency is on the hook for those costs...

Hey, Wall Street: Shut Up About Bonuses

Kevin Spak — Thu, 09 Feb 2012 13:06:34 CST

Matt Taibbi was incredulous when he read a recent New York piece in which Wall Street denizens whined that Dodd-Frank was limiting their bonuses. "I watch what I spend," one banker lamented, "but my girlfriend likes to eat good food," which adds up fast. " Quelle horreur! " Taibbi quips in Rolling...

2011's Top-Paid CEO: Apple's Tim Cook*

Kevin Spak — Tue, 10 Jan 2012 10:51:47 CST

The AP turned some heads yesterday when it reported that Tim Cook might have been the highest paid CEO in America in 2011, with total pay worth some $378 million. But the key word in that sentence is "might," notes Philip Elmer-DeWitt of Fortune . It's still not chump change, but...

Netflix Boss' Stock Options Cut in Half

Kevin Spak — Fri, 23 Dec 2011 12:55:05 CST

Netflix CEO Reed Hastings is paying the price for the price hike / Qwikster debacle that has sent the company’s share price down 75% since July. Hastings' annual stock option allowance will be cut by 50%, bringing it to $1.5 million, the company revealed in a regulatory filing yesterday....