October 1, 2009
New Chief Executives Offered Less Lucrative Pay Deals
Some charities are paying lower salaries to new chief executives than their predecessors earned, in part because of the weak economy.
The American Heart Association was in final negotiations with its new chief executive, Nancy Brown, last fall, when the stock market began its steep plunge and donations began to dry up.
Gary L. Ellis, who chaired the Dallas charity's board at the time Ms. Brown was hired, says she is making "a little bit less" than M. Cass Wheeler, who received