In Brief: Nat. City Paid CEO 5.5% Less in ’00

CLEVELAND — National City Corp. paid David Daberko, its chairman and chief executive officer, 5.5% less in salary and cash bonus last year than in 1999.

Mr. Daberko’s salary was $998,333, just $5,000 more than in 1999, and his bonus dropped to $400,000, from $500,000.

Mr. Daberko also received restricted stock worth $764,750 in 2000, down from $1 million in 1999. The company said Mr. Daberko also received $611,644 under the company’s long-term incentive plan, $52,745 as reimbursement for payment of certain taxes, and $85,203 in retirement benefits.

Last year National City took a number of actions designed to focus on its more profitable businesses and reduce its exposure to fluctuations in interest rates.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER