This would be news if it was to happen. Merrill Lynch Weighs Ouster of Top Officer - New York Times. It was big news when O'Neal and Chenault made it to the top of such powerful companies in the business of money. Some have followed, but not as many as I'd expected. While Chenault is still the darling at AMEX, looks like O'Neal is taking the brunt of Merrill Lynch's problems. Well, he is in charge.
So the board is considering replacing O'Neal because they have lost faith in his decision-making ability. He currently has a $46.4 million pay package, which makes him the 2nd highest paid CEO on Wall Street behind Goldman Sachs CEO. I realize that power is more important than money to a lot of people, but if you would tell me that I could get at least $159 million if I stepped down from my position, I'd be gone before you could finish the sentence. The Price of Any Departure Will Be at Least $159 Million - New York Times.
So the board is considering replacing O'Neal because they have lost faith in his decision-making ability. He currently has a $46.4 million pay package, which makes him the 2nd highest paid CEO on Wall Street behind Goldman Sachs CEO. I realize that power is more important than money to a lot of people, but if you would tell me that I could get at least $159 million if I stepped down from my position, I'd be gone before you could finish the sentence. The Price of Any Departure Will Be at Least $159 Million - New York Times.
