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In 2002, the board of directors at The AES Corp. took herculean steps to put the company back on track. The Arlington, Va.-based energy business' stock price had lost 87% of its value in 10 months and the company was fighting a myriad of legal problems. Desperate to change course, the AES board, following the advice of outside consultants, ordered several changes, including sharply changing the compensation structure for its senior management.
July 21, 2003 at 12:00 AM
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The original version of this story was published on National Law Journal
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