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If State Street CEO Ron Logue is serious about his new expense management programme, he might first want to start with the annual salary and severance package of none other than...Ron Logue.
The CEO of the Boston-based financial conglomerate pocketed no less than $27 million in total compensation last year. What's more, if the firm gets taken over and Logue finds his position surplus to requirements, he will float gently to earth courtesy of a $112 million golden parachute.
That's pretty savvy expense management for a firm which has seen its share price drop by 48% this year.
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