Bank of America’s Chief Executive Brian Moynihan is paying a price for the bank's difficulties in 2011. Mr. Moynihan was the only top exec at the Charlotte, N.C., company who didn't get a cash bonus for last year, according to a filing Wednesday with the Securities and Exchange Commission the Wall St Journal reports.
The bank's board awarded each of five other officers cash incentives worth at least $1.3 million, and three of those officers—all of whom report to Mr. Moynihan—were paid more than their boss.
The filing said that "in each case," those executives "met or exceeded expectations," words that weren't used in discussing Mr. Moynihan. The pay gap shows the board is holding Mr. Moynihan responsible for the company's performance,…
Read all about it at http://online.wsj.com/article/SB10001424052702304177104577309993060012380.html?mod=WSJ_business_whatsNews
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