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.


The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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