A Viacom Inc. investor lost a bid to revive a lawsuit claiming Chairman Sumner Redstone and two top executives were overpaid, when a U.S. appeals court refused to “second guess” the judgment of the company’s board.
Citigroup Inc. Chief Executive Officer Michael Corbat spent almost three months talking about his intent to change the bank’s culture after fraud and a regulatory review exposed weak controls. Yesterday he took action.
Cheniere Energy Inc.’s Charif Souki emerged as the highest paid U.S. executive in 2013, receiving $142 million and beating Gamco Investors Inc.’s Mario Gabelli and Och-Ziff Capital Management Group’s James Levin.
U.S. companies would be prohibited from taking income-tax deductions for their top executives’ pay exceeding $1 million, even if it’s based on performance, under a plan from the top Republican tax writer in Congress.