Verizon raises salaries of CEO, others

Reuters News
Posted: Feb 11, 2014 4:31 PM

(Reuters) - Verizon Communications Inc said it raised Chief Executive Lowell McAdam's base salary by about 7 percent and his long-term bonus to 750 percent of his base salary from 625 percent.

McAdam's total compensation for 2012 was $14 million, with a base salary of $1.4 million, according to a regulatory filing in March.

The company also approved salary raises for Chief Financial Officer Francis Shammo and Verizon Wireless head Daniel Mead on Tuesday.

Enough's Enough
Walter E. Williams

Shammo's total compensation for 2012 was $5.2 million while Mead's was $6.4 million.

The base salary adjustments take effect from March 2.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)