Countrywide's CEO Takes Home Millions

CALABASAS, Calif. -- A securities filing shows Countrywide Financial Corp. CEO Angelo Mozilo earned about $10.8 million in total compensation and cashed out $121.5 million in stock options last year, The Associated Press reported.

The compensation disclosed in the Securities and Exchange Commission filing released Thursday represents a nearly 80 percent cut from the 70-year-old's 2006 pay of about $51 million, the AP reported.

The SEC has been scrutinizing the timing of Mozilo's stock sales. Mozilo has said he's cooperating with the inquiry and has denied making any improper trades, the AP reported.

-- NYSSCPA.org News Staff

Posted on 4/25/08