As reported in today's Wall Street Journal, The House Committee on Oversight and Government reform are questioning the pay packages of three corporation's executives. The companies involved are Countrywide Financial Corporation, Merrill Lynch & Co. and Citigroup Inc.
This hearing on executive compensation has come about due to the mortgage market shakeout and the foreclosures happening nationwide.
The report depicts as excessive the compensation received by the executives of all three firms, but it's major concentration today was on Mr. Angelo Mozillo, the founder of Countrywide.
In 2006, Mr. Mozillo collected compensation of about $42 million dollars. Stock options exercised between November of 2006 and the end of 2007 netted him another $1.5 billion dollars.
07 March 2008
02 March 2008
CEO Compensation and Corporate Governance
I will be posting my Master's Thesis on CEO Compensation and Corporate Governance when final approval of the document arrives. It will be an important part of this blog site for anyone with interest in this topic.
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