OTHER NEWS - Sept. 2, 1992
From Times Staff and Wire Reports
Judge OKs Zale’s Hiring of Groussman as CEO: U.S. Bankruptcy Judge Steven Felsenthal approved Zale Corp.’s revised plan to hire former Canadian Tire Corp. President Dean Groussman as its chairman and chief executive. Felsenthal agreed to Groussman’s hiring after the jewelry retailer trimmed the executive’s compensation package to $850,000 in salary and benefits. Last week, Felsenthal rejected Zale’s plan to pay Groussman $9.35 million in salary, benefits and stock options. Under the new agreement, Groussman, 54, would receive a base salary of $650,000 a year plus $250,000 in severance benefits.
