The debate did not take more than twenty-four hours before hitting the fan. According to his contract, the Franco-Belgian Bank Dexia’s CEO, Axel Miller, who resigned while the bank was being bailed out by French and Belgian’s government, is said to be leaving the company with a €3.7 million ($5.2 million) golden handshake.
Between 2003 and 2007, five high profile US fund banks' CEOs (Goldman Sachs' Lloyd Blankfein, Morgan Stanley's John Mack, Lehman Brothers' Richard Fudd, Merrill Lynch's Stanley O'Neal, Bear Stearns' James Cayne) received record breaking pays that are sparking off fierce debate.
Treasury Secretary Henry Paulson agreed to accept executive pay limits for the C.E.O.s of Wall Street firms slated to benefit from the $700 billion bailout initiative winding through Congress.
The bailed out lender's new CEO, David Moffett, is to receive base pay that is 25% lower than his predecessor.
Dupont Co. announced that Ellen Kullman will take over as chief executive officer from Charles Holliday starting January 1, 2009
Republicans and Democrats say the federal government's $700 billion bailout plan for Wall Street should include limits on compensation packages for the chief executives of financial institutions rescued by Washington.
According to the Associated Press, Virgin Atlantic chairman Sir Richard Branson showed an interest in acquiring Gatwick Airport.
The chief executives of three U.S. auto giants asked House Speaker Nancy Pelosi Wednesday to fund a $25 billion loan program.
The Federal Reserve tapped former Allstate Corp. CEO Edward Liddy to take charge of American International Group.
Merrill Lynch CEO John Thain stands to receive $11 million from restricted stock options when the sale of his bank to Bank of America is completed.
Welcome to CEO Watch, where we take stock of the business world's major players, while providing weekly news roundups from the world of Wall Street. Here we profile the CEOs and their firms – those reinventing their companies amid bleak economic times and those unlikely to recover from historic losses. We tally Corporate America's wins and losses while providing insight into the capitalism's insiders. We mean business.
