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Article: New York Stock Exchange Chief Grasso Defends $139.5 Million Pay Package.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 11, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Sep. 11--New York Stock Exchange chief executive Richard Grasso defended his $139.5 million compensation package yesterday as documents released by the exchange raised new questions about his role in shaping his contract as well as his bonus.
Grasso insisted yesterday he was not involved in setting his own pay, and reiterated he would forgo another $48 million in compensation.
However, at a compensation committee meeting on Feb. 7, 2002, according to minutes reviewed by The Associated Press, Grasso recommended a $16.1 million incentive payment for himself as well as another $5 ...