BusinessCompany NewsStock exchange boss nets $140m

Stock exchange boss nets $140m

The New York Stock Exchange has revealed that its chairman and chief executive Richard Grasso has been paid a total package worth $140m (£89m).

Link: Top UK bosses get inflation-busting pay rises

Although the $140m has been accrued over his 36 years at the exchange, the scale of payments has raised eyebrows just as the NYSE announced an extension to his contract for another two years.

Under the latest deal Grasso will receive basic pay of $1.4m and an annual bonus of at least $1m.

In a statement the NYSE said a one-off payment to Grasso totalling $140m consisted of $40m from a savings plan, accrued retirement benefits of $51.6m and $47.9m from additional incentive awards.

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