CEO

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MGM Mirage Chief Quits Amid Fake MBA Flap

Lanni denies sudden resignation related to degree fib

(Newser) - The CEO of MGM Mirage has announced his resignation, but denied it had anything to do with lying about having an MBA, reports the Wall Street Journal. J. Terence Lanni, one of the most powerful figures in the gambling world, has long claimed to have an MBA from the University...

Gender Pay Gap Persists at CEO Level, Too

Women CEOs still earn up to two-thirds less than male chief execs

(Newser) - When it comes to equal pay for equal work, female CEOs have yet to level the playing field, either, blogs Jena McGregor in BusinessWeek. Women at the top today earn 85% of what their male counterparts make—$1.75 million compared with $2.1 million at the median—even though...

Boeing CEO Hopeful as Strike Talks Set to Resume

Firm may find compromise on crucial outsourcing issue

(Newser) - Boeing’s CEO is confident that the next round of talks could resolve a costly strike by its machinists union, the Seattle Times reports. With formal negotiations set to resume tomorrow, Jim McNerney thinks headway can be made on the pivotal issue of outsourcing the production of parts traditionally fashioned...

A $250B Offer They Couldn't Refuse
A $250B Offer They Couldn't Refuse
Oct 15, 2008 7:47 AM CDT

A $250B Offer They Couldn't Refuse

In brief meeting, Paulson gave banks a 'take it or take it' deal

(Newser) - When the CEOs of America's 9 largest banks arrived at the Treasury at 3pm Monday afternoon, they each received a draft one-page statement promising to sell shares to the government. By 6:30 they'd all signed them. The New York Times reconstructs the meeting, during which Henry Paulson wore down...

Hey, You Turkeys: Quit Gobbling CEO Pay
Hey, You Turkeys: Quit
Gobbling CEO Pay
OPINION
Oct 1, 2008 1:11 PM CDT

Hey, You Turkeys: Quit Gobbling CEO Pay

Costly salaries make sense if they save billions

(Newser) - Politically imposed CEO pay limits are “one of the most penny-wise and pound-foolish things” the “turkeys in Congress” are looking to impose in the bailout package, Thomas Sowell writes in the National Review. It’s a bargain to get a CEO “out the door immediately for millions”...

Execs Were Paid $3B to Lay Credit Crisis Foundation

Wall Street chieftains were well rewarded for risks they took in 2003-07

(Newser) - More than $3 billion was paid to the chief executives of the five biggest financial firms on Wall Street in the run-up to the credit crisis, Bloomberg reports. While supervising bad mortgage-related credit bets that eventually brought the financial system to its knees, Merrill Lynch’s Stanley O’Neal took...

Her Golden Parachute Fine With McCain
Her Golden Parachute Fine With McCain
ANALYSIS
Sep 16, 2008 2:10 PM CDT

Her Golden Parachute Fine With McCain

'No analogy' between Fiorina's $45M from HP, subprime payouts

(Newser) - John McCain and Sarah Palin made a point yesterday of blasting CEOs who left their companies with multimillion-dollar golden parachutes while workers and shareholders suffered. But McCain’s top economic adviser deployed just such a shiny parachute when Hewlett-Packard ousted her, ABC News reports. Carly Fiorina pocketed $45 million, even...

Fannie, Freddie CEOs in Line for Millions in Severance

Mudd, Syron each stand to net at least $6M; critics rip 'pay for failure'

(Newser) - The CEOs of Freddie Mac and Fannie Mae will receive millions in severance pay, pension payouts, and other benefits after the government’s takeover of the mortgage giants, the Los Angeles Times reports. Fannie’s Daniel Mudd stands to take away $7.3 million, and Freddie’s Richard Syron will...

Obama, McCain Woo CEOs to Shore Up Economic Cred

Candidates try to make up for their lacking economic records

(Newser) - John McCain and Barack Obama are doggedly courting CEOs of leading businesses in an effort to win voters' economic confidence, the Wall Street Journal reports. Each candidate has already lined up a corps of "poster CEOs," including the FedEx chairman, who is supporting McCain, and Warren Buffet, who...

Alcatel-Lucent CEO, Chair to Quit After 6th Straight Loss

6th straight quarterly loss for troubled telecom giant

(Newser) - Patricia Russo, the CEO who led the merger of Alcatel-Lucent, will step down by the end of the year after the troubled telecom giant released yet another grim quarterly report, posting a net loss of $1.73 billion. That figure was much larger than analysts had predicted, and almost double...

Rumors About Jobs' Health Hit Ghoulish Point
Rumors About Jobs' Health Hit Ghoulish Point
OPINION
Jul 23, 2008 8:21 AM CDT

Rumors About Jobs' Health Hit Ghoulish Point

Speculation about Apple boss has crossed the line

(Newser) - Speculation about the state of Steve Jobs' health is reaching fever pitch, and the scramble to know more is over the top, Tom Krazit writes in CNET. Shareholders, concerned by the Apple CEO's recent weight loss and the fact that he once had pancreatic cancer, are calling for full disclosure....

In Good Times and Bad, Looks Matter
In Good Times and Bad,
Looks Matter
Jul 21, 2008 1:07 PM CDT

In Good Times and Bad, Looks Matter

Execs' trustworthy appearance can mislead consumers

(Newser) - Did so many people believe IndyMac CEO Michael Perry's assurances that his company was doing fine because of his baby face? A forthcoming study suggests that soft features like "large eyes, small nose, high forehead and small chin," engender more favorable bias in viewers, the Washington Post reports....

Embattled AIG CEO Steps Down
 Embattled AIG CEO Steps Down 
Jun 15, 2008 3:43 PM CDT

Embattled AIG CEO Steps Down

Board replaces Sullivan with Citi exec Willumstad

(Newser) - Martin Sullivan has stepped down as AIG's CEO, and the company's board named chairman Maurice Willumstad his successor, insiders tell the Wall Street Journal. The insurance giant's stock has plummeted more than 50% since October due to subprime writedowns, and Sullivan is still embroiled in legal battles with his former...

CEOs Live the Good Afterlife
 CEOs Live the
 Good Afterlife 
Jun 10, 2008 9:23 AM CDT

CEOs Live the Good Afterlife

Lavish 'severance' payments go to heirs if bosses die at the helm

(Newser) - Corporate critics who say there is not enough connection between performance and executive pay may be gravely concerned to learn that many execs will keep getting sky-high bonuses when they're 6 feet under. A Wall Street Journal review finds dozens of CEOs will receive "golden coffin" payments if they...

Ex-Broadcom Boss Charged With Drugging Exec Drinks

Dozens of drug, fraud charges for billionaire

(Newser) - Broadcom's co-founder has been indicted on an astounding spate of federal fraud and narcotics charges, the Wall Street Journal reports. Henry Nicholas III is accused of using and distributing drugs over a seven-year period while directing a criminal stock options-backdating conspiracy that cost the firm billions. Prosecutors claim he secretly...

Rockefellers' Green Revolt Fails at Exxon

Bid to open leadership to global warming debate fails

(Newser) - A shareholder revolt at Exxon Mobil by descendants of company founder John D. Rockefeller has failed to force management to split up the dual chairmanship and CEO roles of Rex Tillerson. The proposal to appoint an independent chairman in part to stimulate board debate about global warming garnered 40% of...

Obama Says McCain All Talk on CEO Pay

He also calls for overhaul of public financing system for campaigns

(Newser) - Barack Obama grilled John McCain on CEO compensation today and continued laying into the public financing system for campaigns. He railed against execs who “make more in one day than their workers make in one year” and called for legislation requiring corporations to let shareholders set pay. He said...

Norway Shatters Its Glass Ceiling
Norway
Shatters Its
Glass Ceiling
Mar 6, 2008 5:44 PM CST

Norway Shatters Its Glass Ceiling

Nation requires 40% of big companies' boards to be female

(Newser) - A state-mandated shattering of Norway's glass ceiling is drastically changing gender balance in boardrooms there—and not without some resistance, the Guardian reports. A law that 40% of non-executive board directorships at larger firms must go to women went into effect Feb. 22—and though a dozen Norwegian companies failed...

Steve Jobs: Brilliant Tyrant
Steve Jobs: Brilliant Tyrant
Mar 5, 2008 1:12 PM CST

Steve Jobs: Brilliant Tyrant

Apple's mercurial CEO creates a risky rollercoaster ride for shareholders

(Newser) - Steve Jobs is an undisputed Silicon Valley superstar, but his genius has a price, Fortune reports. Jobs is a risk-taking, short-tempered tyrant, and those foibles make Apple a potential rollercoaster for investors. Jobs threatened the company—and his own freedom—in two separate backdating scandals, and, reports the magazine, risked...

Changes in Lauder Dynasty Hardly Cosmetic

Incoming prez and CEO-apparent is first from outside family

(Newser) - Estée Lauder might be a massive, publicly owned company, but it’s also a family business, tightly controlled by the Lauder clan—until now. On Monday, it will welcome new president Fabrizio Freda, who will likely eventually replace CEO William Lauder—and become the first outsider to run the...

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