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Ted Kelly’s pay shocking on several levels

By Steven Syre

 |  Globe Columnist  

  April 13, 2012

Retired Liberty Mutual chief Ted Kelly has emerged as our new local poster manager for executive compensation excess. Kelly, who led the company for 13 years, earned more than $40 million a year over his last four years and more than $31 million annually during his last decade at Liberty Mutual. But the dollars are only half the story. The rest is about a striking lack of transparency and accountability to the company’s policyholders.

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