Qwest Communications CEO Edward Mueller received compensation from Qwest valued at $17.4 million for 2007, despite being with the company for less than half a year. However, the company said in a proxy statement with the Securities and Exchange Commission that most of that compensation came in the form of stock options and restricted stock. Mueller's salary was $470,769, and he received a bonus of $946,849. Mueller's personal use of the corporate jet, including an allowance for family members to fly between Colorado and California, where the Muellers used to live and his daughter attends school, amounted to $231,182. That allowance has been criticized in the past, though it may not be all that atypical of CEO contract benefits at the major telecom companies.
The more jarring figure to some might be the $1.8 million hit Qwest admitted to taking on the sale of Mueller's former house in California. Under the relocation terms in Mueller's contract, Qwest bought his house last year for $8.9 million, but sold in December for $7.1 million.
For more:
- see this report at The Rocky Mountain News
Related articles:
- Comcast CEO Brian Roberts made $20.8 million last year
- Qwest was criticized over the Mueller family's plane perks last September