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Sprint CEO passed on his $414K bonus last year
According to a recent SEC filing, Sprint chairman and CEO Gary Forsee did not take his allotted $414,000 bonus in 2006 as the carrier struggled with subscriber growth and churn. A Sprint spokesperson said: "Based on the company's performance last year, he declined to receive a short-term incentive." Forsee did receive about $14.8 million in compensation during 2006, with about $7.3 million of that figure not tied to his personal performance as chairman and CEO. Tim Donahue, who retired as chairman of Sprint Nextel last year, received a $19.7 million package, including a $2.25 million bonus and severance benefits of $7.6 million.
For more on Sprint's compensation policies:
- see this article from The Kansas City Star
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Comments
Posted by Anonymous | April 10, 2007 - 3:58pm
SO HE DIDN'T TAKE HIS BONUS OF 414,000. I HOPE NOT, WHEN HE GETS A SALARY OF 14,000,000 AND THE COMPANY IS STRUGGLING. HE SHOULD HAVE GIVEN BACK 13 OF THE 14m.
IT'S NO WONDER THE COMPANY IS STRUGGLING. WHEN 2 INDIVIDUALS GET 35 MILLION, WHATS LEFT FOR THE COMPANY AND THE NUMBEROUS SHAREHOLDERS. THIS IS A COMBINATION OF GREED AND BOARD INCOMPETENCE.
Posted by Sam Salad | April 24, 2007 - 10:46am
Ha Ha Ha. I decline $414,000, since I do not deserve it, but will take $14 million! What a joke! What a joke. Are we supposed to be fools and praise him for his conscience?
