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
Long-Term Credit Bank of Japan known as Shinsei Bank. The Diet of Japan enacted a Long-Term Credit Bank Act in June 1952 which became effective that December, and LTCB was incorporated as a stock company ("kabushiki kaisha") with headquarters in the Kudan district of north-central Tokyo. It opened branches in Osaka and Sapporo in 1953, and established agencies at various regional banks. LTCB was almost immediately profitable, owing to the rapid expansion of the Japanese economy at the time. It declared its first dividend in 1954 and was listed on the Tokyo Stock Exchange in 1970. Hayato Ikeda, then Minister of Finance, led the initiative