xml:space="preserve">
xml:space="preserve">
Advertisement
Advertisement

Retiring T. Rowe Price CEO to earn $250,000 for eight weeks work

T. Rowe Price CEO James Kennedy earned $8.9 million in total compensation in 2014.
T. Rowe Price CEO James Kennedy earned $8.9 million in total compensation in 2014. (Jed Kirschbaum / Baltimore Sun)

James A.C. Kennedy, the T. Rowe Price Group CEO who plans to step down after this year, will stay on as a part-time consultant making $250,000 annually, the company disclosed in a filing last week.

Kennedy announced in May he planned to step down after Dec. 31, and the Baltimore-based money management company announced a successor: William J. Stromberg, a 28-year veteran of the firm.

Advertisement

Last year, Kennedy took home about $8.9 million in compensation after a boost in his incentive pay, up from $8.5 million in 2013. According to the U.S. Securities and Exchange Commission filing, Kennedy will receive the $250,000 for up to eight weeks worth of full-time work, plus out of pocket expenses.

The agreement will renew each year until it is terminated by Kennedy or the company, according to the filing.

Advertisement

Recommended on Baltimore Sun

Advertisement
Advertisement