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Buried Deep in the News

23rd September
2008
written by Dr. Leslie Gaines-Ross
Since the economic news has taken over messaging for the past several weeks, I found an interesting piece of information regarding CEO pay. It was buried deep in an article in the WSJ (9.22.08). CEO compensation is always a reputation  loss trigger but especially nowadays. As you already know, the federal government is bailing out AIG (or most of it). However, Robert Willumstad, CEO of AIG since June, turned down an exit package of $22 million despite the contract guarantee. The short-lived CEO said that it would not be right to be given this sum when so many investors and employees are losing money. Something to be said for doing the right thing.
Blogroll, CEO reputation, personal reputation, reputation

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