First Horizon CEOs Take Home $6.8M In 2008 Pay

By IEVA M. AUGSTUMS

CHARLOTTE, N.C. (AP) — Regional bank First Horizon National Corp. paid out more than $6.8 million in compensation to the two chief executives that oversaw the company in 2008.

Gerald L. Baker, who served as CEO until Sept. 1, took home more than $3 million in compensation in 2008, an almost 1.6 percent increase from the full-year's pay he received in 2007. His replacement, Bryan Jordan, took home more than $3.8 million in compensation for the four months he served as the Memphis, Tenn.-based company's CEO.

Baker, who transitioned from president and CEO to vice chairman of the board on Sept. 1 and then retired on Dec. 31, was awarded $817,654 in base salary. He also received stock and option awards valued at $2.1 million on the days they were granted. ...