Seidenberg takes home $20.3 million
Verizon Communications CEO Ivan Seidenberg saw his total compensation package reach about $20.3 million for 2007, a very slight increase over what Seidenberg was paid the previous year, according to a report from the Associated Press. The compensation counted a salary of $2.1 million, a bonus of $4.2 million, a stock award of about $13.1 million and perks worth about $825,312, including $149,023 worth of personal use of a corporate aircraft.
Verizon said in a regulatory filing yesterday that the company had hit all marks during 2007 on which CEO pay is based. The company's stock value has been sagging since 2008 opened, making it easy to forget the stock price actually rose more than 17 percent during 2007. So, we'll ask the same question we asked recently when BusinessWeek reported compensation figures for AT&T CEO Randall Stephenson: Is Seidenberg's compensation fair or out of whack? Post a comment and let us know what you think.
For more:
- read this article from the Associated Press
Related article:
- Stephenson, who spent half of 2007 as CEO of AT&T and half as vice chairman, collected $18 million last year
Comments (4) | Post a comment
Comments
Posted by Anonymous | March 19, 2008 - 1:39pm
No living person is worth $20M/year. As both an AT&T and VZ stockholder, I am appalled at how much Stephenson and Seidenberg are paid. Their compensation appears to be tied to a number of performance metrics, which they apparently met or exceeded; but, again as a stockholder, the only metric I use to measure performance is share price. Neither CEO could have hit that target given the sub-par stock performance of the two companies over the last year. Finally, if a person makes $20M/yr, they can afford first class seats on any commercial airliner; they could even afford to charter a private plane. Stop using my airplane for personal use!
Posted by Anonymous | August 3, 2008 - 8:27am
I learned a long time ago that number crunchers can make anything look good. I'd say some very sharp pencils and spin confirmed those bonuses and pay.
Posted by Anonymous | October 16, 2008 - 11:18am
I am a Verizon retiree and haven't had a increase in my pension in over 15 years and this CEO gets a 20.3 million dollar bonus ???? Where is the justice ?? And I really feel sorry for him that it was only a slight increase poor baby. NOT!!!!!!
Nothing but a Capitalist BULLY !!!!!
Posted by Anonymous | October 16, 2008 - 4:29pm
It is outrageous! Why is he entitled to a raise when the stock constantly declines, I lost all faith in corporations. Don't they feel guilty everytime they see their bank accounts, but way to go, keep pushing the cost of those bonuses on the consumers, shareholders and employees
