AT&T CEO Takes $2M Pay Cut Over T-Mobile Deal

Wow, could you imagine being able to afford taking a $2 million pay cut? The failed merger with T-Mobile cost the company over $4B but all he got was a 25% reduction in his cash bonus???

AT&T's board cut CEO Randall Stephenson's 2011 pay by $2.08 million because he engineered the failed deal to buy T-Mobile USA, according to a regulatory filing. The collapse of the deal, in the face of opposition from antitrust regulators, cost AT&T $4.2 billion in cash and spectrum rights that it had to hand over to T-Mobile.

Comments