NYSE execs share $132 million retirement
NEW YORK, Oct. 11 (UPI) -- Top executives at the New York Stock Exchange
will share more than $132 million when they retire, the Washington Post
reported.
Two of the most senior executives, who are longtime allies of former NYSE
Chairman Richard Grasso, will get $22 million each.
The retirement packages of 17 other NYSE senior executives total $54.8
million.
In a letter to exchange members, newly named interim NSYE Chairman John S.
Reed said the compensation figures "reflect the same process and programs"
that produced Grasso's pay.
Reed said the retirement benefits for most of the executives were not yet
"vested," but total what the executives would receive if they remain at the
NYSE until retirement, the Post said.
Grasso resigned last month, under fire, for his $140 million retirement
package.
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