Fifth Third's Top Executives Not Getting Raise |
Thursday, January 15, 2009 11:32:50 AM - Middletown Ohio |
By: Tara Kunkle
This year Fifth Third Bank’s CEO is recommending that none of the company’s top 50 executives get a raise. Fifth Third Bank is a pay-for-performance company and they say the performance wasn’t enough for 2008. The fact that it might not have been good enough for 2008 is that Fifth Third’s stock fell two-thirds in 2008. Fifth Third Bank also received $3.4 billion in bailout money for 2008.
Fifth Third is the largest bank holding company in Cincinnati operating 1,307 offices in the Midwest and Southeast. The board is scheduled to meet on Tuesday which is two days ahead of the release of the fourth-quarter and full-year results.
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