Jim Ousley, the CEO of CenturyLink's (NYSE: CTL) cloud computing and data center unit Savvis, received a one-year extension to his employment contract.
Ousley (Image source: CenturyLink / Savvis)
As reported in the St. Louis Business Journal citing a SEC filing on Monday, Ousley's previous contract, created in Sept. 2011, expired on Dec. 31, 2012. According to the filing, his new employment agreement was entered in on Jan. 8 and went into effect Jan. 1.
The filing said that Ousley's new agreement is "materially similar" to the 2011 contract. He will also continue to make the same base salary of $550,000 in addition to an annual bonus target of 100 percent of his base salary.
In addition, CenturyLink will pay for expenses Ousley incurs when commuting from his Sedona, Ariz. home to company offices.
This has been a year of ongoing transition for Savvis as it becomes a bigger part of the broader CenturyLink.
After CenturyLink consolidated its business and government segments into two common groups last March, Ousley took on an additional role as president of the service provider's Enterprise Markets Group (EMG).
Later, in Nov. 2012, CenturyLink named nine-year Savvis veteran Jeff Von Deylen as president of the cloud and data center provider. He took over from Bill Fathers, who decided to leave the company after a transition period that ends in March.
The telco's recent move to combine its network services business sales and operations teams under one common organization did not include Savvis.
Savvis has been a continually strong revenue source for CenturyLink since it purchased the company in July 2011.
Although CenturyLink won't report its earnings until Feb. 13, in Q3 2012 the Enterprise Markets - Data Hosting division, which consists of Savvis operations, reported operating revenues of $280 million, up 8.1 percent from pro forma Q3 2011.
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