Verizon shareholders endorse execs' pay packages

May 07, 2009

(AP) -- Verizon Communications Inc. shareholders have overwhelmingly endorsed the pay package for its top executives.

Even a leading critic of the compensation - Bill Jones of the Association of BellTel Retirees - says the 90 percent vote in favor of the package shows most shareholders are pleased with the direction of the communications company.

The "say on pay" vote was announced during the company's annual meeting Thursday in Louisville, Ky.

During a questions and answer session with shareholders, Verizon CEO Ivan Seidenberg said he was pleased that most shareholders decided that the compensation package is "competitively priced."

Seidenberg says New York-based Verizon has outperformed the broader market in recent years.

Calculations by The Associated Press have valued Seidenberg's compensation at $20.2 million in 2008.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Jury says Silicon Valley firm did not discriminate (Update)

Related Stories

Verizon shareholders to vote on executive pay

May 06, 2009

(AP) -- A movement to give shareholders influence over compensation awarded to company executives gets an early test Thursday as Verizon Communications Inc. becomes the latest to hold a "say on pay" vote.

Intel CEO gets $12.4M in 2008 pay

Mar 23, 2009

(AP) -- The value of Intel Corp. Chief Executive Paul Otellini's compensation package rose slightly to $12.4 million in 2008, a year in which the chip maker's profit was whacked by a global slowdown in personal computer ...

After error, Apple giving investors 'say on pay'

Apr 27, 2009

(AP) -- Apple Inc. investors will get an advisory vote on executive compensation, the company said Monday, reversing an earlier announcement in which Apple said the "say on pay" proposal failed to get enough support at the ...

Recommended for you

Tesla shares jump on Musk 'tease' in tweet

5 hours ago

Tesla Motors shares jumped Monday after co-founder Elon Musk tweeted that the company would unveil as "major" new product line next month, leaving analysts guessing.

Amazon unveils move in local services

11 hours ago

US online giant Amazon said Monday it was launching a services marketplace offering to connect consumers with businesses offering anything from home improvement to piano lessons.

Intel in talks with Altera on tie-up

Mar 27, 2015

US tech giant Intel is in talks with rival Altera on a tie-up to broaden the chipmaker's product line amid growth in Internet-connected devices, the Wall Street Journal reported Friday.

User comments : 0

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.