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Even the local Bank President has to blush at the MAUS shakedown. It is criminal and borders on extortion. MAUS defines the word GREED - When more is not enough. Divide the $11 Million over his years of employment & it still puts him over the top compared to peer credit unions. If "poor ol" Dave was undercompensated all these years why not quit and move on to a higher paying playground? Alas none to be found. He has been fairly compensated his entire career and did not need this over-the-top payout. His aggregate compensation over his 30-yr career will likely exceed $20 Million, an average of $666,000/ yr. For the majority of those years PSCU would have been in a peer group with an average CEO salary of less than $100,000. Looking at his PSCU tenure as a whole, he has and will be substantially over-compensated by at least 300%.
ReplyDeleteMAUS makes the WesCorp FCU SIRAVO SERP look like chump change!