Each of the seven named executives in the Block proxy statement were either like Cobb new to the company, or no longer in the positions for which compensation was reported. Cobb is the third CEO in the last three years and the company has had as many CFOs in the same time as it looked for a formula to regain growth and market share.
The departees included C.E. Andrews, who had been president of the former RSM McGladrey operations. Andrews, who left in March, got $4.5 million in compensation for the year, including a $3 million bonus as a reward for his services. Philip Mazzini, former president of the retail services group, left at the end of the fiscal year with $1.4 million. Jeffrey Brown, who served as CFO, $1.4 million. Gregory J. Macfarlane was named CFO on June 4, 2012, but Brown stayed with the company as chief accounting and risk officer.
Susan P. Ehrlich received $1.2 million as SVP of financial services and Thomas Gerke almost $930,000 as general counsel. Ehrlich moined the company in November and Gerke in January.