G. Kennedy Thompson Securities and Exchange Commission, he will get a severance of $1.45 million and accelerated vesting of $7.25 million in restricted stock. Thompson had served the company for 32 years. Lanty Smith replaced Thompson as interim CEO. On July 10, 2008 Robert K. Steel, the former Treasury Undersecretary and Goldman Sachs Group Inc. executive, took over as CEO of Wachovia Corp. However, Wachovia only survived for two more months before it was forced to merge with Wells Fargo. While CEO of Wachovia in 2007, G. Kennedy Thompson received a total compensation of $15,653,559, which included a base salary of $1,090,000, a
Environmental credit crunch the extent of the potential disruption of environmental depletion in economic terms by using language associated with the ongoing financial credit crunch. The phrase "environmental credit crunch" was used to evoke the scale of the challenge (and the need for a policy response) as early as October 2010, as the financial credit crunch was starting to take hold. The Chartered Institute of Water and Environmental Management in the UK was one of the earliest to adopt the phrase as part of their campaign for dramatic policy action. World Wild Fund for Nature Director General James Leape also used the phrase