Later she demanded that Citigroup replace its chief executive as a condition of a second rescue, though she ultimately backed down.
For months, the relationship between the two men had been strained over Mack's refusal to get rid of Morgan Stanley executive Zoe Cruz as a condition for the return of several Morgan Stanley executives, including Pandit, to the firm.
The Treasury Department has announced that it is including limits on executive compensation as a condition of receiving government aid.
The White House could even have sought the ouster of a particularly foolhardy chief executive officer as a condition of continuing to prop up his bank.
Mr. Haji-Ioannou demanded the dismissal of Mr. Molaris and the chief executive, Peter Goodfellow, as a condition of his joining the board to lead a new search for a buyer, Stelmar said yesterday.
And yes, it is appropriate to rein in executive compensation as a condition for banks receiving taxpayer handouts.
Now that Americans have footed the bill for more than a trillion dollars in bailouts, Congress is finally starting to clamp down on executive pay as a condition for a bailout.
The changes, though, also appear to come with a condition: executives at Apple have reportedly told the team that it has until "late next year to prove the feasibility of the self-driving system and decide on a final direction". That suggests that the company has been struggling to figure out exactly how to make its auto ambitions work.
The treasury secretary, Henry Paulson, insisted that AIG's chief executive, Robert Willumstad, stepped down as a condition of the deal.
LinkedIn's chief executive Jeff Weiner acknowledged that "as a condition for operating in the country, the government of China imposes censorship requirements on internet platforms".
