Merrill Lynch (MER) Issues Statement on '08 Executive Compensation
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Merrill Lynch & Co. Inc., (NYSE: MER) yesterday announced that John Thain chairman and CEO, requested that he receive no bonus for 2008. Each of the four executive officers of Merrill Lynch, President and COO Greg Fleming, CFO Nelson Chai, President of Global Wealth Management Robert McCann, and General Counsel Rosemary Berkery requested that they also receive no bonus for 2008. Mr. Thain and the other executive officers believe this is the appropriate recommendation to the board for the Merrill Lynch shareholders and Merrill Lynch employees given current economic and market conditions.
Merrill Lynch & Co., Inc., together with its subsidiaries, provides investment, financing, insurance, and related services to individuals and institutions worldwide.
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