Janus Capital CEO Compensation Fell 10 Pct In 2008

By IEVA M. AUGSTUMS

CHARLOTTE, N.C. (AP) — Janus Capital Group Inc. Chief Executive Gary D. Black received compensation of more than $7.9 million in 2008, down 10 percent from the previous year, according to a proxy statement filed with the Securities and Exchange Commission Thursday.

Last year, mutual fund managers like Janus were hammered as the market foundered and customers continued to pull money out of their accounts. Black received more than $8.8 million in compensation in 2007.

Black's base salary was $800,000 in 2008, the same as in 2007. He received a performance-related cash bonus of nearly $3.4 million in 2008, compared with the $6.3 million he received in 2007. ...