Legg Mason's board approves executive accountability plan

By Hanah Cho | hanah.cho@baltsun.com

October 28, 2009

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Baltimore money manager Legg Mason Inc.'s board of directors approved Tuesday a senior executive plan designed to establish accountability in investment performance, net flows and operating margins for the firm's top management.

The board had been critized by some shareholders for awarding bonuses to executives for the 2009 fiscal year when the company was unprofitable.

The board also approved the addition of activist shareholder Nelson Peltz as director, expanding the group to 14 members.

Copyright © 2009, The Baltimore Sun

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