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NEW YORK (AP) - Marsh & McLennan Cos. Inc. disclosed Thursday that it had more than doubled the salary of its chief executive, Michael G. Cherkasky, who took over amid a scandal in 2004.
In a filing with the Securities and Exchange Commission, Marsh & McLennan said that Cherkasky received $10.7 million in total pay in 2005, up from about $4 million in 2004. The package included a $1 million salary, a $2.5 million bonus and some $7 million in restricted stock awards and stock options.
Cherkasky became CEO in October 2004 after the company ousted Jeffrey W. Greenberg from the posts of chairman and chief executive amid a government probe into bid rigging and price fixing. The investigation has since been settled.
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