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Verizon CEO Sees Big Pay Increase Even As He Retires « My Montage

Verizon CEO Sees Big Pay Increase Even As He Retires

March 20, 2012 5 Comments

Despite retiring as CEO of Verizon Communications Inc. in August, Ivan Seidenberg earned more in 2011 than he did in the last two full years of work.

According to an analysis of a Monday regulatory filing from the New York-based phone company, Seidenberg earned $26.4 million in 2011. That compares with the $18.1 million he earned in 2010 and the $17.5 million he received in 2009.

He was CEO for seven months of 2011, then remained as executive chairman until the end of the year.

Seidenberg didn’t receive a severance payment. In calculating executive compensation, The Associated Press includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.

Seidenberg was the highest-paid CEO in the U.S. telecommunications industry last year. Randall Stephenson, his counterpart at AT&T Inc., which is larger, earned $18.7 million.

Seidenberg’s successor, Lowell McAdam, earned $23 million in 2011. That was in large part due to a special grant of $10 million in restricted stock, made when he assumed the CEO role.

Business, Technology
5 Comments to “Verizon CEO Sees Big Pay Increase Even As He Retires”
  1. Cynthia Smith says:
    March 20, 2012 at 7:37 am

    all i have to say is wow :woot:

  2. Drew Taylor says:
    March 20, 2012 at 7:55 am

    must be nice

  3. Jeffrey Thomas says:
    March 20, 2012 at 10:15 am

    Looks like Verizon rates will go up.

  4. Adrian Thomas says:
    March 20, 2012 at 10:43 am

    so he makes more than the CEO of AT&T and AT&T is a much bigger company? and he made $26.4 million while working only SEVEN MONTHS!!!

    I saw in the related post section that Verizon just lost over $2 billion. How can they afford to pay this man. The man who replaced him earned $23million. Wait i take that back I see why they lost money cause of the big executive pay days. I can’t stand corporate greed

    Can i get an Amen lol

  5. Rafael Adams says:
    March 26, 2012 at 10:09 am

    must be nice

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