According to an SEC filing, CIT Group chief executive officer John A. Thain bought 50,000 shares of the company’s stock at an average cost of $27.31 per share and had a total value of $1,365,500.
Although CIT reported net income of $151 million in Q4/15 compared to $252 million a year earlier, the company also noted that total financing and leasing assets at the end of the quarter were $50.3 billion, marking a 14.7% increase from Q4/14.
CIT announced that CEO John A. Thain will retire effective March 31, 2016 and will be replaced by Ellen R. Alemany. CIT also said corporate controller Carol Hayles will be promoted to CFO effective November 1, 2015.
Catholic Charities of the Archdiocese of New York announced it will honor John A. Thain, chairman and CEO, CIT Group at its Gala Benefit at the Waldorf-Astoria. The event raises more than $2 million annually.
According to a recently released proxy statement, CIT said CEO John A. Thain’s 2012 compensation totaled $8.25 million. Thain’s performance assessment shows highest scores achieved for liability management.