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Former Borders CEO gets $805,774 pay in 2009


New York City Former Borders Group CEO Ron Marshall received compensation in 2009 valued at $805,774, about 26% less than he made in the prior year, according to an Associated Press analysis of an SEC filing on Monday.

Marshall, who vacated the CEO position this January after only a year at the bookseller's helm, received a salary of $750,000. He also was paid other compensation worth $55,774, including $30,334 for relocating and $21,676 as a reimbursement of legal fees for negotiating his employment contract.

That is down about 26% from the $1.08 million Marshall was paid in 2008 when he joined the company, which mainly included a signing bonus and stock option awards.

Marshall left Borders in January to head up supermarket retailer Great Atlantic and Pacific Co. Chief merchandising officer Mike Edwards has been serving as Borders' interim president and CEO while the traditional bookseller tries to find its fourth CEO in five years.

Borders last week reported a yearly loss of $109.4 million, compared with a loss of $186.7 million in 2008. Revenue fell 14% to $2.82 billion from $3.28 billion.

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