NEW YORK, Sept. 10 (UPI) -- Richard A. Grasso, the chairman of the New York Stock Exchange, says he will give up $48 million in compensation he was owed by the exchange.
"This institution should not be preoccupied about talking about the compensation of its leader," Grasso said at a news conference. "I've put this issue behind me."
Grasso's compensation became controversial after the NYSE disclosed last month he had received $139.5 million in accumulated pay, largely from deferred compensation
Mens Timberland Boots, the Wall Street Journal reported.
Up to now, NYSE salaries have not been disclosed.
From 1999 through 2002, Grasso had total compensation
Womens Timberland Boots, excluding benefits, of $81 million. But from June 1999 through this August, the exchange said he had accumulated $52 million in retirement benefits that he chose to take as a lump sum, as part of the $139.5 million payout last month. An additional $28.6 million had accrued
Monster iBeats, but is part of the money he is giving up, the Journal said.
