New Accounts Of Meetings At Big Board On Chief's Pay

Article Abstract:

The controversy surrounding the generous compensation package granted to New York Stock Exchange chairman Richard A. Grasso expanded into questionable board and committee actions that were revealed in documents released to the media yesterday. Although Grasso agreed to relinquish $48 million in accumulated salary, NYSE meeting minutes show that board members did not familiarize themselves with terms of his contract in 2002, were not aware of the $48 million in compensation, and could not explain discrepancies in salary figures in NYSE reports. The minutes also reveal there was no board discussion about Grasso's salary or how it exceeded that of other financial service industry executives.

Contracts & orders received, Contracts & orders let, Corporate directors, Compensation and benefits, Contracts, Contract agreement, Records and correspondence, Chairpersons, McCall, H. Carl

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Behind-the-Scenes Technocrat Takes Top Billing at Big Board

Article Abstract:

The selection of Goldman Sachs executive John A. Thain as the new CEO of the New York Stock Exchange reflects the new managerial approach the stock exchange wants to adopt. John S. Reed will remain chairman but the two positions will remain separate with distinct powers and duties to avoid the abuses that transpired under Richard A. Grasso who was forced to resign because of his controversial compensation package that he instigated.

Executive changes & profiles, Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Officials and employees, Human resource management, Appointments, resignations and dismissals, Securities industry, Goldman Sachs and Co., Chief executive officers, Company personnel management, Reed, John S., Thain, John A.

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