Grasso's Fate Is in Hands Of Undecided

Article Abstract:

New York Stock Exchange (NYSE) chairman Richard A. Grasso continues to face public scrutiny over his $139.5 million compensation package despite his willingness to forego an additional $48 million in deferred salary. NYSE board members have been reluctant to demonstrate a unified stance in support of his pay package because securities industry leaders have been critical of the extent of compensation for Grasso who serves a a regulator of financial services firms. Others feel that the NYSE was negligent in approving a contract whose details were overlooked. Grasso's decision to cash out on his package while still chairman has generated criticism and concern over his managerial objectivity. There is some speculation that the board will replace Grasso.

Government expenditures, Public affairs, Corporate directors, Stock-exchange, Stock exchanges, Economic policy, Public relations, United States. Securities and Exchange Commission, Company public relations

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Grasso Had Experience With Anger Over Pay On a Corporate Board

Article Abstract:

The furor over excessive compensation that caused Charles Grasso to resign as head of the NYSE was preceded five years ago by a similar incident at Computer Associates International. Grasso was on the company compensation committee as a director when institutional investors complained vigorously about the pay package for CEO Charles B. Wang, who later resigned. Concerns over Grasso's pay at the NYSE are centered on the fact that the exchange is a regulatory body, where salaries are much lower than a purely private sector company.

Wage Administration, Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Influence, Appointments, resignations and dismissals, Compensation management, Securities industry, Chief executive officers, CA Inc., CA

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