WaMu CEO could make $13 million for 3 weeks' work
By Associated Press
WASHINGTON (AP) - Washington Mutual CEO Alan Fishman, who took over on Sept. 8, could walk away with more than $13 million in severance and bonus pay.
According to documents filed with the Securities and Exchange Commission, Fishman gets to keep his $7.5 million signing bonus and a $6 million cash severance. Fishman is expected to be replaced by new owner JPMorgan Chase. It paid $1.9 billion for Washington Mutual's banking assets in a deal brokered by federal regulators who shut it down. Just two-and-a-half weeks ago Fishman replaced Kerry Killinger. He had led WaMu since 1990 and built it into the nation's largest savings and loan before it made too many bad mortgages. |
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