Friday, Oct. 10, 2003 | 11:11 a.m.
The New York Stock Exchange's top two executives are due $22 million each when they retire, interim leader John S. Reed said today, delivering on his promise of greater openness at the exchange.
While the pay for co-chief operating officers Robert G. Britz and Catherine R. Kinney was nowhere near the $187 million package that toppled former chief executive and chairman Dick Grasso, Reed noted it was set with the same criteria and recommended by Grasso.
The NYSE detailed that compensation since 1998 for Britz, Kinney, senior adviser William R. Johnston, general counsel Richard Bernard and executive vice presidents Edward A. Kwalwasser and Richard A. Edgar.
Britz, 52, and Kinney, 50 were the highest-paid. In salary, bonus and other compensation, Britz earned $3.77 million last year, while Kinney earned $3.76 million. Kwalwasser, who is in charge of regulation, earned $1.64 million in total last year.
Bernard earned $1.38 million, Edgar earned $1.32 million and Johnston earned $1.08 million.
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