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Allegheny Tech. CEO's Pay Falls By Half In 2008

Stock quotes in this article: ATI  

By SAMANTHA BOMKAMP

NEW YORK (AP) — The chairman, president and chief executive of titanium producer Allegheny Technologies Inc. received compensation valued at $11.5 million in 2008, down 54 percent from the $25.2 million he was awarded a year earlier, according to an Associated Press analysis of a Securities and Exchange Commission filing Monday.

L. Patrick Hassey received a 2008 base salary of $907,917, compared with a 2007 base salary of $880,042.

Hassey didn't receive a bonus in 2008. In 2007, he was awarded a bonus of $323,886. His performance-based cash bonus fell to $5.5 million in 2008 from nearly $18 million in 2007. ...

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