Editor's note: This is the second story in an occasional series exploring the rise in shareholder activism and its impact on U.S. corporations amid the economic downturn. The first explored reasons behind the trend.
Former Merrill Lynch(MER Quote) CEO Stan O'Neal left the firm in October after $18 billion worth of securities writedowns tied to subprime and other risky mortgages and a plummeting stock price.
For that, he was sent off with $161 million.
O'Neal's retirement package and the lofty pay for fellow humbled CEOs Charles Prince at Citigroup(C Quote) and Angelo Mozilo at Countrywide Financial(CFC Quote) made the trio poster children for rising shareholder anger at the discord between lofty executive pay and lackluster corporate performance. ...
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