No Bonus, No Salary Increase for AT&T CEO
Mon, Feb 2nd, 2009
AT&T CEO Randall Stephenson will not be taking a multimillion dollar bonus this year. Sure, it’s not going to hurt his pocket that much - his bonus, about $4.5 million last year, is roughly 25 percent of his income - but from a symbolic standpoint, it’s the right thing to do. Like thousands of employees of his company, he will get no salary increase for the year, according to The Wall Street Journal. Details of his total compensation will be outlined in a forthcoming SEC filing. AT&T has been hurt by weak economy and has announced that it will cut 4 percent — 12,000 jobs — of its workforce. (My post after a conversation with Randall last year.) (Photo Courtesy ZDNet/Dan Farber)
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Nice to see a CEO taking some of the pain as well!