In September 2003, Richard Grasso resigned as chairman and chief executive officer of the New York Stock Exchange, after weeks of intense public criticism over the size of his $ 190 million compensation package. As chairman of the committee that oversaw the payment of Grasso, Ken Langone, firmly believed that the payment is fair and reasonable. However, members of the NYSE, state regulators and the media, as was charged fees for supervision and review Langone as the inspiration for huge payouts Grasso. Calls to oust Langone as a director of the board of all their posts for a few days the resignation of Grasso. This case should be the immediate response against Langone over his role in the NYSE, and the relationship of the scandal was at its possible deviation from the board of directors of General Electric. "Hide
by Suraj Srinivasan, Lizzie Gomez Source: Harvard Business School 10 pages. Publication Date: October 21, 2010. Prod. #: 111060-PDF-ENG
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