« Danaher Reaffirms Q1 Forecast | Main | The Buy List YTD »

So few corporate boards are willing to stand up for incompetent executives. Thank you, WaMu!

The board's committee said in light of the challenging business environment and the need to evaluate performance across a wide range of factors it will take a three-step approach to rewarding its executives including subjectively evaluating company performance in credit risk management.

In January, Seattle-based Washington Mutual said it awarded Killinger 3.2 million stock options for 2008 to provide a "strong incentive to restore shareholder value".

WaMu's share price sank 70 percent in 2007 as mortgage losses soared.

Posted by edelfenbein at March 5, 2008 12:15 PM