NYSE Euronext CEO 2010 compensation down 3 pct

AP News
Posted: Mar 04, 2011 1:58 PM
NYSE Euronext CEO 2010 compensation down 3 pct

The chief executive of NYSE Euronext Inc. received compensation in 2010 that was 3 percent less than the year before, primarily because stock awards and perks were lower.

CEO Duncan L. Niederauer's total compensation was $7.1 million for the year, compared with $7.3 million in 2009.

His salary for 2010 remained static at $1 million. It was the third year in a row that the company's compensation committee chose to keep executive salaries the same.

Niederauer's bonus rose 12 percent to $2.4 million from $2.1 the year before.

He received another $2.4 million but it was paid in shares of stock which vest over time and were not included in this year's total.

The company said it implemented a bonus payment system for 2010 based it on a percentage of its earnings.

Stock awards for Niederauer, 51 years old, fell 9 percent to $3.6 million from nearly $4 million in 2009.

All other compensation, which includes use of a company car, contributions to a 401(k) account and life insurance, fell to $58,039 from $148,943, mostly due to much higher retirement plan contributions in 2009.

Last year, NSYE Euronext's net income more than doubled to $577 million, or $2.20 per share, as revenue improved to $4.43 billion.

The Associated Press formula for calculating executive compensation is designed to isolate the value that the company's board placed on the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.

The calculations don't include changes in the present value of pension benefits, making the AP total different in some cases than the total reported by companies to the SEC.

NYSE Euronext agreed last month to be acquired by Deutsche Boerse. The companies said if the deal is completed, Niederauer will be CEO, and Deutsche Boerse' CEO Reto Francioni will be chairman.

NYSE Euronext will hold its annual meeting April 28 in New York.