John donovan at&t salary reviews
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AT&T CEO Randall Stephenson pulled in $32 million in compensation last year after AT&T's dustup with Elliott Management boosted the company's stock. The Wall Street Journal reported on Thursday that Stephenson's overall compensation increased by 10% in 2019, mainly due to the telco and media company's stock appreciation.
In October, AT&T avoided a drawn out battle with activist investor Elliott Management by agreeing to a plan that included no more major acquisitions and a full review of AT&T's portfolio. The truce sent AT&T's stock to a 52-week high on Oct. 28. Shares of Dallas, Texas-based AT&T increased by about 37% last year.
Compensation for John Stankey, who was named as president and chief operating officer of AT&T last year and is the head of AT&T's Warner Media division, went up from $16.5 million in 2018 to $22.5 million last year, according to The Wall Street Journal.
John Donovan's 2019 compensation increased to $27 million last year, including close to $10 million in other pay that also included a retirement bonus. Donovan was AT&T Communications' CEO before he abruptly announced his retirement in August.
The executives' long-term stock and options awards were much larger than their annual cash salaries, according to The Wa
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Activist investor Elliott Management conducted an exhaustive review of AT&T’s business management over the last decade and did not come away with a favorable conclusion. In an open letter to AT&T’s board of directors, Elliott, which owns a $3.2 billion stake in AT&T, trashed numerous aspects of AT&T’s business, including its attempted, but failed, purchase of T-Mobile and its acquisition of DirecTV. But of particular interest to FierceWireless readers, Elliott penned an entire section entitled “Poor Execution in Wireless.”
Elliott says over the last decade AT&T has failed to execute on strategic opportunities, and it compared AT&T unfavorably to Verizon.
“While Verizon moved as quickly as possible to implement 4G LTE, AT&T initially balked, essentially giving Verizon a head start,” states Elliott’s letter. “Verizon took advantage and executed well, quickly being the first to scale its LTE footprint and thereby earning a reputation for superior network quality, as well as $20 billion dollars of additional wireless revenue.”
The letter also claims AT&T sat back as “T-Mobile was disrupting the industry by eliminating contracts while offering family plans and unlimited packages.”
The primary consequence of these setbacks has been a consistent
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AT&T CEO Randall Businessman gets heed pay waste $32 cardinal for 2019
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