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Stock Market & Financial Investment News

News Breaks
December 23, 2013
09:47 EDTFCXFreeport McMoRan CEO restructures employment agreement
Freeport-McMoRan Copper & Gold announced that it has entered into restructured employment arrangements with its President and Chief Executive Officer, Richard Adkerson. FCX and Adkerson have mutually agreed to terminate Adkersonís employment agreement, including Adkersonís rights to any specified salary, bonus or other compensation amounts, rights to severance or change-of-control payments and other rights under his employment agreement. Adkerson will continue in his current role as President, CEO and Vice Chairman and will continue to serve as a member of the Office of the Chairman, together with FCX Chairman, James Moffett, and James Flores, Vice Chairman of FCX and President and Chief Executive of FCXís Oil and Gas unit. In consideration of Adkersonís agreement to terminate his employment agreement and forego any rights under the agreement, FCX granted Mr. Adkerson a special retention award of restricted stock units representing 1.0M shares of FCX common stock.
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April 11, 2014
06:22 EDTFCXFreeport McMoRan cuts Grasberg mine workforce 'modestly,' WSJ reports
Freeport-McMoRan has "modestly" cut the workforce at its Grasberg mine, CEO Richard Adkerson tells the Wall Street Journal. The cuts come as a tax dispute with Indonesia's government drags on. Reference Link

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