Verizon ties CEO pay to project success

Verizon is making a somewhat controversial move to pay its CEO Ivan Seidenberg based on the company achieving certain goals, as opposed to the company's stock price. Seidenberg passed on a restricted-stock grant worth $7.6 million for 2005 that he would have received if he stuck with the company through 2007. Under the current incentive plan, he could make more than $22 million in stock if all goals are met.

If the return is among the top 20 percent of companies in the Standard & Poor's 500-stock index and its peers in the telecommunications industry, Seidenberg could make as much as $11 million. However, he would receive no award if the return was among the bottom 20 percent. Other factors influencing his pay will be meeting targets for the fiber-optic project, expansion in the company's wireless unit, integrating its merger early this year with long-distance provider MCI and achieving various legislative objectives.

For more on Verizon's new CEO pay scheme:
- see this WSJ article (sub. req.)

Sponsored by ADI

What if we were always connected? With the help of our advanced wireless technology, even people in the most remote places could always be in touch.

What if there were no ocean, desert, mountain or event that could ever keep us from telling our stories, sharing discoveries or asking for help? ADI’s next-gen communications technology could keep all of us connected.

Suggested Articles

Nokia said joint research with Telefónica confirms that 5G networks are up to 90% more energy efficient than 4G.

The Senate Commerce Committee voted 14-12 along party lines to move forward on President Trump’s nomination of Nathan Simington to the FCC.

5G means networks and transport are no longer a one-size-fits-all scenario.