April 30, 2008
Freddie Mac's Compensation Committee Cites Accomplishments in Awarding CEO Compensation
Freddie Mac lost $3.1 billion in 2007, its first annual loss, and its regulator Ofheo reported to Congress that the company remains "a significant regulatory concern." Yet the company's compensation committee cited management's "notable accomplishments" in the annual report and disclosed total compensation to the chairman and CEO Richard Syron of over $13 million. His $2.2 million performance-based cash bonus, though, was only 66% of his target amount since, a spokesperson explained, Freddie Mac's financial performance was "not good." WPost, Freddie Mac Differs With Regulator on 2007 Results.
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