AllianceBernstein (AB) Extends Employment Contract of Chairman & CEO
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AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) announced that Peter S. Kraus, Chairman and Chief Executive Officer, and AllianceBernstein have agreed to extend the contractual term of his employment for an additional five years, commencing in January 2014, when his existing contract expires, through January 2019. Mr. Kraus was named Chairman and CEO in December 2008.
Under the new agreement, Mr. Kraus' annual salary remains at $275,000. The contract does not provide for any cash bonus for Mr. Kraus. The new agreement terms are structured to ensure that Mr. Kraus' compensation incentives are aligned with the long-term interests of AllianceBernstein and its Unitholders.
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Under the new agreement, Mr. Kraus' annual salary remains at $275,000. The contract does not provide for any cash bonus for Mr. Kraus. The new agreement terms are structured to ensure that Mr. Kraus' compensation incentives are aligned with the long-term interests of AllianceBernstein and its Unitholders.
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