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Michael G. Cherkasky served as CEO of Marsh & McLennan Companies (MMC) from October 2004 until January 2008. His financial journey is marked by notable fluctuations; for instance, in 2005, he earned about $10.7 million, thanks to a $2.5 million...

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Michael G. Cherkasky

Ex-CEO of Marsh & McLennan Companies

Education

N/A

Sector of Economy

Financial Services

Born

November 1, 1944 - 80 years ago

CEO of Marsh & McLennan Companies for

3 years 2 months (Oct 2004 - Dec 2007)

Previous Experience

Unknown

Holdings

See how much did Michael G. Cherkasky make over time.

Michael Cherkasky’s stock holdings reflect a pivotal moment in leadership and performance. When he left MMC in early 2008, he held a substantial amount of equity in restricted stock units, totaling 293,409 shares that vested due to his termination. This...

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Compensation History

See how much did Michael G. Cherkasky make over time.

Michael G. Cherkasky’s compensation history illustrates the highs and lows of corporate leadership. In 2005, he earned approximately $10.7 million, which included a base salary of $1 million, a performance-based bonus of $2.5 million, and restricted stock grants. His performance metrics for that year were strong, leading to substantial bonuses and stock options valued over $3.3 million. But by 2007, Cherkasky faced a stark contrast—his total compensation fell to merely $1 million due to missed performance goals, and he did not receive a bonus at all. When he left the company in January 2008, he received a severance package totaling $7.15 million, which, combined with his vested stock options, underscored the financial stakes of executive leadership. This financial trajectory emphasizes the relationship between company performance and executive incentives, as well as how quickly fortunes can change in the corporate environment.

Year

2007

Total Compensation

$1.03M

Salary

$1.00M

Board Justification

The compensation philosophy aims to attract and retain highly qualified professionals while motivating them to lead the company in the long-term interest of shareholders, with a significant portion of compensation linked to performance metrics.

Bonus

$0.00

Board Justification

No short-term incentive compensation was awarded for 2007 due to performance metrics not being met.

Other

$32.28K

Board Justification

Includes contributions to defined contribution plans and financial planning services.

Restricted Stock

$0.00(0 N/A)

Board Justification

No long-term incentive awards were granted in respect of 2007 due to termination of employment.

Performance Metrics

Performance metrics were based on MMC's financial performance, including earnings per share and revenue targets.

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