BofA CEO Must Give Back '09 Salary

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Mogul of Pineapples
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BofA CEO Must Give Back '09 Salary

Postby Mogul of Pineapples » Fri Oct 16, 2009 12:36 am

The CEO of Bank of America who is retiring, Ken Lewis, has to pay back his salary he made in 2009. Feinberg of the Treasury Dept recommended it to him and he supposedly went along with it. That means he's giving back around a million.

No salary for Bank of America CEO Ken Lewis - Oct. 15, 2009

I think it's nothing more than a PR stunt if you ask me. He has to give back a million but he still gets his stock options from this year and leaves with a $69M retirement package.

It's the old smoke and mirrors trick. Publicize the fact that he's giving up one million so we hopefully don't notice he's dashing out the door with 69x that amount.
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