Joint Chiefs - From war room to board room

By Gary Jacobson

July 6, 2007 at 6:01pm

Don’t cry for Gen. Peter Pace. Or, Adm. Ed Giambastiani.

When they soon leave as chairman and vice chairman of the Joint Chiefs of Staff, they will likely have ample opportunity to make big money in the private sector.

Consider Richard Myers, who preceded Pace as chairman. The retired Air Force general received a total of nearly $800,000 in cash, stock and other compensation last year as a director of four publicly traded companies, according to SEC filings. He is also a professor of military history at Kansas State.

Myers is a director of Aon, Deere & Co., United Technologies and Northrop Grumman.

Gen. Joseph Ralston, a former vice chair of the Joint Chiefs who retired in 2003, received a total of more than $640,000 last year as a director of URS, Lockheed Martin and Timken, according to SEC filings.

He is also a director of privately held Cohen Group, headed by former U.S. Sen. and Secretary of Defense William Cohen. Cohen Group is a consulting and lobbying firm.

In addition, both Myers and Ralston are eligible for military retirement pay. Retired military leaders have big-time corporate Muckety. Former members of the Joint Chiefs currently sit on many other company boards, including Anheuser-Busch, Union Pacific, ConocoPhillips and Phelps Dodge.

Military pay doesn’t match the private sector. But it is increasing. In April, the base salaries of Pace and Giambastiani went from $15,959 a month to $17,972, which totals about $215,000 a year.

Last month, defense secretary Robert Gates said he would not re-nominate Pace for another term as chairman because his confirmation process would be a “divisive ordeal.” Pace, who was vice chairman for four years before becoming chair in 2005, has not indicated his future plans. Giambastiani said he is retiring.

Follow Muckety on Twitter Tweet This! Share on Facebook

Click here to sign up for the Muckety Newsletter

 Read related stories: News  


Leave a Comment

The relationship map to the left is interactive.
• Solid lines are current relations. Dotted lines are former relations.
• Expand items with + signs by double-clicking or by selecting multiple items in the map and pressing the "e" key.
• Move an item in the map by clicking and dragging.
• You can also delete items, separate boxes and save maps. Right-click on the map or select Map Tools for these options.
• Find out more about an item in the map by right-clicking on the item and choosing Information about...
• View map color key.
• This interactive map requires Flash player.

Become a fan of Muckety on Facebook

  • Search for stories
    Special Features

Follow Muckety on Twitter Follow Muckety on Twitter
Muckety has no direct connection to most of the people or organizations listed on these pages.
We are unable to forward personal messages or provide personal contact information.
We make every effort at Muckety to ensure that our data is correct and timely. However, relationships are in constant flux and we cannot guarantee accuracy. If you come across incorrect or outdated information, please let us know by email.
© 2017 Muckety LLC