BRIEFCASE CEO SET TO RESIGN AT PACIFIC UNION.Byline: - Staff and Wire Services Pacific Union Bank announced Monday that Woon Seok Hyun will resign as the Los Angeles-based bank's chief executive officer, president and director, effective May 22. Hyun has been the bank's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. since May 2001. The board has formed a search committee as part of an effort to ``localize'' the CEO position, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company. The board has selected an independent director, David Warner David Warner may refer to:
Treasury bill rates mixed in auction WASHINGTON - Interest rates on short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. Treasury securities were mixed in Monday's auction. The Treasury Department sold $15 billion in three-month bills at a discount rate of 1.160 percent, down from 1.165 percent last week. An additional $16 billion was sold in six-month bills at a rate of 1.185 percent, up from 1.175 percent. The three-month rate was the lowest since April 7, when the bills sold for 1.135 percent. The six-month rate was the highest since Jan. 21, when the rate was 1.190 percent. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable-rate mortgages Adjustable-rate mortgage (ARM) A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or , rose to 1.33 percent last week from 1.25 percent the previous week. Schering-Plough reveals pay deal WASHINGTON - Pharmaceutical giant Schering-Plough Corp. granted its new top executive 200,000 restricted shares and options for 900,000 more shares, according to a filing Monday with the Securities and Exchange Commission. Fred Hassan Fred Hassan is currently Chairman of the Board and Chief Executive Officer of the pharmaceutical company Schering-Plough since April 2003. The company spends over $300,000 on security to protect Hassan, who has received death threats from animal rights groups[1]. , who was named chief executive and president Sunday, will receive a minimum annual salary of $1.5 million and is eligible for an annual cash bonus and other incentive pay under Schering-Plough's compensation programs, the filing said. |
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