From Reuters: Citigroup Inc said on Thursday it has
overhauled the executive pay plan that shareholders rejected last year as
overly generous, revising it to tie bonus payments more closely to stock
performance and profitability.
The company also said in a filing that it is paying new
Chief Executive Mike Corbat $11.5 million for his work in 2012.
Under the plan, 30 percent of the bonus for top executives
will be paid in cash based on how much the company earns on assets and on total
shareholder return compared with peers over three years through 2015. Another
40 percent will be a simple cash bonus and the final 30 percent will be
deferred stock….
Read all about it at http://uk.reuters.com/article/2013/02/22/uk-citigroup-pay-idUKBRE91K1D320130222
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