Hillary Clinton announced yesterday that she is resigning her seat on the boards of directors of three companies because she is working full time on the presidential campaign of her husband, Bill Clinton.
In doing so, she is giving up a significant portion of the couple's income. Last year, Hillary Clinton reported earning $60,700 from being a director of Wal-Mart, TCBY Enterprises and LaFarge Corp. This was far more than Clinton's $35,000-a-year salary as Arkansas governor and more than a quarter of their $235,000 total income.
Hillary Clinton was paid about $110,000 as a partner in a Little Rock law firm. An aide said she will remain a member of the law firm and of some nonprofit boards.
Clinton said she decided to resign after concluding "that my full-time participation in my husband's presidential campaign prevents me from fulfilling my responsibilities as a director of these public companies."
Clinton joined the board of Wal-Mart, the nation's largest discount retail chain, in 1986. She joined TCBY Enterprises, a yogurt manufacturing and franchise firm, in 1989 and LaFarge, the U.S.-based arm of a French concrete company, in 1990.
Top executives of Wal-Mart and TCBY, both based in Arkansas, have made donations to her husband's races for governor.