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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1321 |
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That number has since increased to over $11 billion but may increase again as further irregularities discovered with insurance related issues. No estimate of these additional potential revisions is currently available.
On December 21, 2004, Franklin D. Raines stepped down as Chairman and Chief Executive Officer and J...
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Raines stepped down as Chairman and Chief Executive Officer and J. Timothy Howard resigned as Chief Financial Officer. Raines' departure, at age 55, was structured as an early retirement. Under his employment agreement and the terms of the Executive Pension Plan, Raines is entitled to receive 60 percent of his "High-Three Total Compensation", which is his highest total compensation for three consecutive years during the last 10 years...
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