Verizon CEO 's pay rose in 2011, despite retiring

Mar 20, 2012 By PETER SVENSSON , AP Technology Writer

(AP) -- Despite retiring as CEO of Verizon Communications Inc. in August, Ivan Seidenberg earned more in 2011 than he did in the last two full years of work.

According to an analysis of a Monday regulatory filing from the New York-based phone company, Seidenberg earned $26.4 million in 2011. That compares with the $18.1 million he earned in 2010 and the $17.5 million he received in 2009.

He was CEO for seven months of 2011, and then remained as executive chairman until the end of the year.

Seidenberg didn't receive a severance payment. In calculating executive compensation, The Associated Press includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of and awards granted during the year.

Seidenberg was the highest-paid CEO in the U.S. last year. Randall Stephenson, his counterpart at AT&T Inc., which is larger, earned $18.7 million.

Seidenberg's successor, Lowell McAdam, earned $23 million in 2011. That was in large part due to a special grant of $10 million in restricted stock, made when he assumed the CEO role.

is based in New York.

Explore further: Judge approves $450 mn deal in Apple ebook suit

not rated yet
add to favorites email to friend print save as pdf

Related Stories

AT&T CEO takes $2M pay cut over T-Mobile deal

Feb 21, 2012

(AP) -- 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.

Comcast CEO's 2010 pay package valued at $31.1M

Apr 01, 2011

(AP) -- Brian Roberts, the CEO of cable company Comcast Corp., received a compensation package valued at $31.1 million in 2010, up 14 percent from a year earlier as the company worked to complete a deal to become the majority ...

Top Facebook executives surpassed Zuckerberg in pay

Feb 02, 2012

Facebook's chief operating officer made more than $30.5 million last year, more than 20 times what founder Mark Zuckerberg earned as the CEO of the social networking giant, company IPO filings Wednesday showed.

Cisco CEO's pay fell by third, same as share slump

Oct 19, 2011

(AP) -- Cisco Systems Inc. CEO John Chambers saw his pay package fall by nearly a third in the company's fiscal year that ended in July, a period when the company's shares dropped by about the same amount.

Verizon CEO hints iPhone not coming soon

Sep 23, 2010

(AP) -- Comments from Verizon Communications Inc. CEO Ivan Seidenberg on Thursday left little room for the possibility of a Verizon version of the iPhone any time soon.

Recommended for you

Dish restores Turner channels to lineup

Nov 21, 2014

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

'Call of Duty' blasts past $10 bn in sales

Nov 20, 2014

Blockbuster military shooter video game "Call of Duty" has blasted past $10 billion in lifetime sales, propelled by demand for the latest installment in the 11-year-old franchise.

Square's point-of-sale service goes global

Nov 20, 2014

Financial services startup Square is taking aim at cash registers across the globe, making its point-of-sale software available internationally in English, Spanish, French and Japanese.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

Yenaldlooshi
1 / 5 (1) Mar 20, 2012
I had another idea for severance!

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.