E*Trade CEO Gives Back Some Money

from the here,-take-what-you-want dept

After the amazing uproar concerning the news that E*Trade’s CEO got about $80 million in compensation last year while his company tanked, Christos Cotsakos has now said that he’s going to give back $21 million to show his commitment to the company (NY Times, registration required, etc). He also said he’ll accept no base salary for the next two years. Of course, when all the various compensation you get outside of base salary adds up to 99% of your compensation, this doesn’t seem like such a big deal. I also don’t think that returning $21 out of $80 million is such a wonderful gesture either. The company is falling apart and he still took home approximately $59 million. Not bad work, if you can get it.

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