Abstract
ALBANY, Jan. 27 (AP)—The financially troubled Empire Blue Cross and Blue Shield, under fire for its top executives' pay, has frozen the salary of its chief executive at $600,000, officials said today.
Empire, New York State's largest insurer, has also frozen the base pay of other top executives, although these officials can get raises if they are promoted or if they significantly exceed performance goals
The company has been criticized for Albert Cardone's $600,000 salary.
[The vice president of government operations] said the criticism was unfounded because Mr. Cardone is underpaid by industry standards.
- Copyright © 1994 by the American Academy of Pediatrics
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