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Home | Bank of America CEO gets $6 million raise |
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Bank of America CEO gets $6 million raise
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- March 28, 2012
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Fortune -- Bank of America (BAC) more than quadrupled what it paid CEO Brian Moynihan in 2011 - a year in which the company's stock fell nearly 60%. But the company indicated that it's likely to curtail Moynihan's pay this year, reflecting the company's rocky performance in 2011. For CEO pay, it appears, the stick comes long after the carrot. The quirk in when Moynihan will take his lumps has to do with how Bank of America structures its pay. In its annual proxy statement, which the bank filed on Wednesday, Bank of America said it paid its CEO nearly $8.1 million in 2011. That was up from $1.9 million in the year before. That makes it look like Moyniham got a huge pay raise.
- Read more at:http://rss.cnn.com/~r/rss/money_topstories/~3/kCi-V4cGFqw/
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