Sprint CEO Cuts Pay to Reflect Cost of iPhone
May 5, 2012, 12:22 PM by Eric M. Zeman
Sprint CEO Dan Hesse has agreed to pay cuts in order to appease shareholders disappointed with the costs to Sprint for adopting Apple's iPhone. His 2012 salary will be reduced, as will several incentive pay items. "These voluntary actions regarding my personal compensation, which total $3,250,830, will eliminate any benefit for me to the discretionary adjustment the compensation committee made earlier this year," Hesse said in a letter to the company. Sprint has taken on costs as high as $15 billion, which will be spread over several years, in order to sell the iPhone. The costs have impacted Sprint's financial performance in the market.
more info at Wall Street Journal »
more info at Reuters »
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Comments
| Subject | Author | Date |
| That's what happens when you sign a deal with the devil | BigRed75 |
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| Apple isn't the Devil! | jeryzkid22 |
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| To all the haters... | Naytess |
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