BUSINESS

Merrill Lynch CEO Guaranteed $159 Million Exit Package After Firm Posts Huge Loss

03/28/2008 02:45 am ET | Updated May 25, 2011

Merrill Lynch's directors may be weighing E. Stanley O'Neal's future, but one thing is already guaranteed: a payday of at least $159 million if he steps down.

Mr. O'Neal, the company's chairman and chief executive, is entitled to $30 million in retirement benefits as well as $129 million in stock and option holdings, according to an analysis by James F. Reda & Associates using yesterday's share price of $66.09. That would be on top of the roughly $160 million he took home in his nearly five years on the job.

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