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Article: New York Stock Exchange announces voluntary retirement plan and officer salary freeze.
- Article from:
- PR Newswire
- Article date:
- November 2, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. 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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NEW YORK STOCK EXCHANGE ANNOUNCES
VOLUNTARY RETIREMENT PLAN AND OFFICER SALARY FREEZE
NEW YORK, Nov. 1 /PRNewswire/ -- The New York Stock Exchange board of directors today approved a voluntary early retirement program for management and professional personnel. It also approved a freeze on officer salaries for 1991.
In announcing the steps, John J. Phelan, Jr., chairman and chief executive officer, said:
"Our most important task as we head on into the 1990s is to enhance the competitive strength and quality of our market. Accomplishing that in the current period of industry downturn requires careful management of costs and ...