Search
 

CEO Pay: How Much Is Right?

Call CEO pay the credit union governance hot potato. This is certainly an increasingly hot topic, said attorney Michael Lozoff, chair of the credit union practice at Shutts and Bowen in Miami.

By Robert McGarvey | Updated on August 27, 2012

Call CEO pay the credit union governance hot potato. “This is certainly an increasingly hot topic,” said attorney Michael Lozoff, chair of the credit union practice at Shutts and Bowen in Miami.

Top executive pay is a topic that many in the industry want to duck, and the reason is as plain as the avalanche of bad press won by David Maus when it was revealed that the CEO of Public Service Employees Credit Union in Denver was paid more than $11 million in 2010 by the $1.1 billion institution. And then there was the $2.1 million paid in 2010 to Grace Mayo, CEO of Telesis Credit Union, a $301 million institution in Chatsworth, Calif. that was liquidated in June 2012. That too won an enormous amount of press, mainly bad, and an upshot is widespread industry reticence about addressing this topic in public forums.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.