Category: Reduced Payday

American CEOs Laughing at French CEOs

Recently inaugurated Socialist President Francois Hollande has been executive pay should not exceed 20 times the salary of the lowest-ranking employees for companies owned or partially owned by the government according to new rules. Now “France’s finance minister has declared…

Swiss Bank CEO Gets Alpine Pay Cut

One of the biggest drops in pay for any major CEO reflected Credit Suisse’s bad fortunes. Brady Dougan lost 69% in income compared to 2010, when he took home only 5.8 million Swiss francs ($6.3 million) last year. The Swiss…

Did Affair Derail Stryker CEO?

What was universally described as “abrupt,” Stephen P. MacMillan resigned as CEO of Stryker Corp. weeks ago. The Kalamazoo, Mich. company manufactures medical technology such as hip and knee replacement parts and orthopedic tools. MacMillan had been well-regarded as he…

Failed Deal Drops CEO to $22 Million

After AT&T was rebuffed by U.S. anti-trust regulators in their effort to purchase T-Mobile for $39 billion, the telecom company had to pay a $4.2 billion opt-out clause. This failed deal resulted in a $2 million cut to CEO Randall…

“No Bonus” Shocks World

This week former FBI director Louis Freeh told Congress about progress being made in his effort to untangle the MF Global Holdings bankruptcy, famously known for the now-reported $1.6 billion in accidentally misplaced funds. He told skeptical Senate Banking Committee…

Company-Killing Bonuses Halted

Government regulators stopped executives from taking bonuses from MBIA, a bond insurer, which might have killed the company. New York State’s “financial services department effectively rescued the company (in 2009) . . . from its crippling exposure to toxic mortgage-backed…

Bonus Sinks to $7 Million

The chief executive officer of Goldman Sachs, the too-big-to-fail bank in the middle of the 2008 world financial crises, saw his stock bonus cut to $7 million in 2011, down from $12.6 million the year before. The investment bank saw…

Bank CEOs Incomes Drop

A report by The Wall Street Journal says bank chief executives saw smaller paydays during 2011. The CEO of Morgan Stanley, James Gorman, may have taken the biggest hit with a 50% drop in his stock-based income, to only a…