Usually, the currently serving chief legal officer of a thriving global conglomerate takes the top spot in our annual compensation survey. That was before the global recession. This year, the honor goes to Gregory Doody, an expert in bankruptcy law whose take-home pay from the Calpine Corp. was $9.7 million.
Houston-based Calpine hired Doody in July 2006 as its general counsel and chief restructuring officer, and his mission was to lead the biggest producer of natural gas-fueled power out of bankruptcy. He had arrived with proven credentials. Before joining Calpine, Doody had helped the Birmingham-based HealthSouth Corp. sell $1 billion in debt in 2006 and avoid bankruptcy after a 2003 accounting scandal.
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