Two days after three of its employees were put on administrative leave for improper trading and on the very day it received a subpoena a Franklin Resources proxy statement revealed that 70-year-old Chairman and CEO Charles Johnson has been awarded a $2 million bonus.
Co-presidents Martin Flanagan and Gregory Johnson, who are to become co-CEOs this coming Thursday, Jan. 1, each received $1.05 million bonuses, Reuters reports.
In total, Johnson earned $2.7 million this past fiscal year, including his base salary of just under $600,000 and $75,000 for personal use of company aircraft. In total, the co-presidents both earned nearly $3 million.
Two officers of the firm and one trader were placed on administrative leave this past Monday.
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