Morgan Stanley ousts President amid shake up

Article Abstract:

Chief Executive Officer Philip Purcell of Morgan Stanley has appointed Stephen Crawford and Zoe Cruz co-presidents, succeeding Stephen Newhouse. The major shake up of top management leaves the future of other executives open to question. Mr. Purcell's leadership of the company has been challenged by former executives.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

NYSE chairman elects to forgo additional pay

Article Abstract:

Dick Grasso, the chairman of the New York Stock Exchange, has decided not to accept an additional compensation payment of $48 million. Grasso was given a controversial retirement and deferred-compensation package worth $140 million.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

Schwab co-CEOs declined bonuses, gave up options

Article Abstract:

Charles Schwab Corp.'s co-chief executives, Charles Schwab and David Pottruck, turned down their bonuses for 2002. Both men also returned their stock option grants as the firm was affected by the weakness in the stock market.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code: