Mack Whittle

Treasury Probes S.C. Bank's Payout to Ex-CEO — The Treasury Department says it is reviewing official concerns about the timing and circumstances of The South Financial Group's payout to ex-CEO Mack Whittle.... [Tags: ceo, circumstances, mack whittle, probes, south financial group]

Treasury Probes Bank Payout to Ex-CEO — The Treasury Department says it is reviewing official concerns about the timing and circumstances of The South Financial Group's payout to ex-CEO Mack Whittle.... [Tags: ceo, circumstances, mack whittle, probes, south financial group]

ProPublica: Bank Got Bailout, CEO Got Golden Parachute — by Paul Kiel, ProPublica The South Financial Group, South Carolina's largest bank, announced earlier this week that it had been approved to receive $347 million from the U.S. government. But the bank's founder and longtime CEO Mack Whittle won't be sticking around. He retired with an $18 million severance package in late October, two months earlier than had been expected. Because of the timing, he's free from golden parachute limits (PDF) that come with accepting bailout money. "It smells like he moved the retirement date up to avoid [those limits]," said Paul Hodgson of the Corporate Library, a corporate-governance research... [Tags: bailout, compensation consulting, consulting firm, corporate governance research, corporate library]

CEO Payday Draws S.C. Governor's Ire — The South Financial Group CEO Mack Whittle moved up his retirement ahead of the bank's application for federal assistance that would limit executive pay. Gov. Mark Sanford asked federal officials to examine the deal after TheStreet.com broke the story.... [Tags: federal assistance, federal officials, group ceo, mack whittle, mark sanford]