UBS drew fire on Thursday as it announced it paid CEO Sergio Ermotti almost $9 million in 2012 and welcomed a new investment bank chief with a $26 million package, just as the Swiss bank is in the process of firing 10,000 staff. Executive pay in Switzerland remains a heated issue five years after the near... Read More »
By Pallavi Gogoi
NEW YORK -- Citigroup has become the first Wall Street bank to get a thumbs-down from shareholders over outsized executive pay.
At its annual meeting Tuesday, 55 percent of the bank's shareholders voted against the pay packages that have been granted to Citigroup's top executives,... Read More »
Tokyo Electric Power said it would cut the total compensation of its president, chairman and other top executives by half as it grapples with the world's worst nuclear crisis in 25 years at its Fukushima Daiichi plant.
The company, which is seeking government help to foot a massive bill to compensate local... Read More »
According to the Economic Policy Institute, a Washington-based research group, in 2005, the average CEO in the United States earned 262 times the pay of the average worker, the second-highest level in the 40 years for which data exist. In 2005, a CEO earned more in one workday (there are 260 in a year) than an... Read More »