Showing posts with label Charles "Chuck" Prince. Show all posts
Showing posts with label Charles "Chuck" Prince. Show all posts

Friday, November 09, 2007

Charles “Chuck” Prince in Line for Bonanza

TIMESONLINE: Charles "Chuck" Prince, the deposed head of Citigroup, is in line to walk away from the Wall Street giant with a total pay, perks and shares payout worth just under $100 million, it has emerged.

The payout for Mr Prince, who stays on as a consultant until the end of the year, include a pro-rata cash "incentive award" currently estimated to be worth $12 million.

It also includes $10,716,469 in restricted share awards and $16,046,703 in stock options that will automatically vest at his departure.

Mr Prince, whose exit was sealed late last week, already owns 1.61 million shares in Citi, currently worth about $53 million. Ex-Citigroup chief to exit with almost $100m: Charles 'Chuck' Prince is expected to leave the bank with a $42m package on top of shares worth $53m By Miles Costello

Mark Alexander