Word: araskog
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Talk about chutzpah. Did ITT chairman Rand Araskog deserve the 103% raise that jacked his pay up to $11.4 million last year and made him one of America's best-paid executives, even though his company's profits rose just 4%? No way, say furious investors led by the California Public Employees' Retirement System, the largest U.S. pension fund. Calpers, which holds 1.15 million shares of ITT stock, or about 1%, is so steamed over Araskog's raise that it has threatened to vote to oust the company's directors at the annual meeting next week...
...Dale Hanson: "ITT is not one of the companies that bubble to the top when you think of performance." That's putting it mildly. According to Graef S. Crystal, a professor at the Haas Business School at the University of California, Berkeley, ITT's total return to shareholders during Araskog's 12- year tenure has been in the bottom 30% of America's 406 largest companies. Yet over the same period, he notes, Araskog's compensation has rocketed from a level that was 87 times as great as a blue-collar worker's to one that is more than...
...million in salary and stock in 1989, more than three times the average for CEOs of the 200 largest U.S. firms (his 1990 compensation: $11.2 million). His board members earned $75,000 in cash and benefits, a solid 70% above the $44,000 average. At ITT, chairman Rand Araskog earned $6.4 million in 1989, more than twice the average (his 1990 pay was $11.1 million), while his directors were paid...