Would you turn down a $2.2 million bonus because you didn't think you deserve it?

06.02.2015 / 16:11

Rating:

This guy did.

Richard Handler, CEO of Jefferies, turned down a cash bonus for 2014 after the investment bank fell short of performance targets and its parent company’s stock slid.

Bloomberg News reports that while Handler, who also serves as CEO of the parent, Leucadia National Corp., was eligible for a $2.2 million bonus, he recommended to the compensation committee that the payout be withheld, Leucadia said Wednesday in a regulatory filing without specifying the reason for his decision.

His long-term stock award also was reduced after the bank’s profits fell short of performance goals, according to the filing.
Brian Friedman, Leucadia president and the chairman of Jefferies, also told the board of directors not to give him a cash bonus for 2014, according to the filing. iqFDA4pu0F1k

Hit the link below to access the complete Bloomberg News article:

Wall Street CEO Voluntarily Turns Down $2.2 Million Bonus

Varchev Traders

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.

WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.

Varchev Finance

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Would you turn down a $2.2 million bonus because you didn't think you deserve it?

London

Universal numbers