Morgan Stanley CEO John Mack received no raise, bonus, or stock options last year, and his total compensation, valued at $1.2 million, sank by more than 440 million compared with 2007, reports AP.
Mack earned an $800,000 base salary and $435,097 in other compensation, which included personal use of company aircraft. Mack said he will reimburse the company for his use of the plane.
Mack received no bonus in 2007 and asked that he get none last year. He has served as chairman and CEO since 2005, and his employment agreement requires that his base salary stay above the $775,000 salary of his predecessor.