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...

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 performance bonus and significant stock options. However, by 2007, his compensation plummeted to just over $1 million, and he didn't receive any bonus due to unmet performance targets. Following his departure from MMC, he received a lump sum payment of $7.15 million, and all his unvested stock options were cashed out, which showed MMC’s commitment to him despite the drop in performance metrics. Cherkasky also re-entered the business scene as CEO of US Investigations Services, which signed a substantial $10 million deal with MMC. During his tenure, his decisions significantly shaped the company's direction and financial strategies, revealing how leadership can pivot company fortunes in both positive and negative directions. His career is a prime example of how quickly the tides can turn in the corporate world, and how performance is linked closely to compensation and opportunity.