Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Morningstar Pays More Than $3 Million to a Departing Exec Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 28, 2011

Morningstar Pays More Than $3 Million to a Departing Exec

Reported by Neil Anderson, Managing Editor

Morningstar is shelling out more than $3 million to its departing chief operating officer, Tao Huang. CEO Joe Mansueto confirmed yesterday in the Chicago-based firm's first quarter earnings report that "the majority of the decline [in operating margin for the quarter] was related to a $3.2 million expense for the previously announced separation agreement with [Morningstar's] former chief operating officer."

In January Morningstar revealed that Huang would depart by the end of the month [see The MFWire, 1/10/2011], and later that month the mutual fund ratings firm revealed the separation agreement with Huang [see filing].

Under the terms of that agreement, Morningstar agreed to pay Huang a severance of $3.15 million, half by February 15 in a lump sum and the other half over the course of the next year (while Huang continues to provide Morningstar with consulting services). Morningstar also agreed to pay Huang's accrued 2010 bonus of $600,000. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use