It pays to be a telco boss


There is nothing like having the top job at a phone company. Whether your stock goes up or down, you still make millions. In fact you make way more than say CEO of GE or Pepsi.

* In 2006, Richard Notebaert, CEO and Chairman of Qwest got a total compensation of $16.49 million ($1.1 million in base salary). Qwest stock doubled in 2006

* Gary Forsee, Chariman, CEO and President of Sprint Nextel’s total package for 2006: $21.3 million ($1.44 million in base salary.) Sprint Nextel shares swooned about 17% in 2006.

* However these two gentlemen made a lot less together when compared to Ed Whitacre, the CEO and Chairman of the largest phone company in the US, AT&T. His 2006 scorecard stands at $60.73 million ($2.1 million in base salary.) Ma Bell shares were up over 40% in 2006.

* Ivan Seidenberg, chairman and CEO of Verizon got a total package of $21.31 million in 2006 ($2.1 million in base salary.) Verizon shares were up about 24% in 2006.

Full scorecard is here.


Jesse Kopelman

I may not generally care for Whitacre and Seidenberg, but they earned their pay. Meanwhile, Notebaert and Forsee should have gotten nothing. It’s funny how the boards always set performance standards that make it trivial for the executives to game the system and get huge bonuses. I’d love a job where I got a multimillion dollar bonus merely for being borderline competant. Supply and demand, though. There are only so many multibillion dollar corporations to go around . . .

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