Sprint CEO Cuts Pay to Reflect Cost of iPhone
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.
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That's what happens when you sign a deal with the devil
Apple isn't the Devil!
To all the haters...
To all the haters who keep saying "This will be the downfall of Sprint..." - people have been saying that for years. For those of us who remember Sprint under its previous CEO...we remember the mess Dan was tasked with cleaning up after the Nextel debacle, the low customer satisfaction, the inept customer service reps, and the lackluster phone lineup. All of these were reasons why I chose to leave Sprint after being a customer for 8 years. But, all o...
And it does pain me to say this as I actually like Sprint and Dan!