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Overpaid CEOs, Part 2: Sprint

April 9, 2007 in Wireless Industry News

Ed Zander Got $13.2 Million for Doing Squat.

That’s the title from my previous blog post about corporate execs getting way too much moolah compared to how well the company is faring. But just when you thought $13.2 million was bad…

Sprint Nextel’s CEO and Chairman Gary Forsee got a compensation package of $14.8 million in 2006. Granted, only $1.6 million of it was in actual dollars – the rest was stock shares and options (and use of company aircraft, personal security (?), blah blah blah).

Actually, Mr. Forsee was supposed to receive $17.9 million dollars worth of salary + stock options but that figure was cut down after Sprint failed to reach some key goals.

Source: “Sprint Nextel Chief Recieves $14.8M” – AP

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