Hans Vestberg pulls away from the employees

Charlie Taylor

Verizon’s CEO Hans Vestberg earns 166 times more than one employee at the telecom operator. The compensation gap has increased by just over 60 percent in the last three years – while the share has fallen 15 percent since the Swede took over, writes Lightreading.Published: 15 May 2022, 22:31The news site Lightreading has compared the difference between the major telecom operators’ CEO remuneration for 2021 and what the infantry will receive. The biggest difference is in T-Mobile, where CEO Mike Sievert withdrew a total of the equivalent of SEK 227 million. Compared to the median salary of SEK 729,000 Finansinspektionen SEC – is it a compensation gap of 312 times. Interestingly enough, writes Lightreading, Mike Sievert received three times as much as Timotheus Höttges, CEO of T-Mobile’s parent company Deutsche Telekom. An even bigger difference was last year, Di’s review shows. of the previous two years. For 2020, Mike Sievert received over half a billion kronor, SEK 552 million, 859 times the median salary in the operator. Mike Sievert took over T-Mobile in May 2020, since then the share has risen by 25 percent. that for AT&T. Since July 1, 2020, when John Stankey took over as CEO, the share has fallen by just over 12 percent.That did not stop John Stankey in last year was rewarded with a compensation increase of 22 percent, to a total equivalent of almost SEK 250 million. It gave him 231 times more than the median salary for an employee. In 2021, more than 28,000 employees were forced to leave AT&T in an attempt to reduce costs, writes Lightreading. Hans Vestberg has now worked for five years at Verizon after being fired from Ericsson ERIC B + 2.05% Today’s development. There he was CEO between 2010 and 2016, including the period when Ericsson is suspected of bribing the terrorist sect IS in Iraq. The Swede initially came to Verizon as Chief Technology Officer. In August 2018, he was appointed CEO, from March 2019 he is also chairman. During the three years at the top, Hans Vestberg has constantly distanced himself from the subordinates regarding earnings.2021, the median salary in Verizon was just over SEK 1.2 million. For Hans Vestberg, however, the outcome was 166 times more, just over SEK 204 million according to the latest dollar exchange rate. The difference has also increased every year. For his efforts in 2020, he received 112 times more than the median salary, the year before 105 times more than the median salary. Since March 2019, when the Swede took over as chairman, Verizon’s share has fallen by 15 percent. Swedish companies are not forced to report median salaries, and Ericsson does not. Therefore, it is not possible to compare CEO Börje Ekholm directly with his American sector colleagues. The closest estimate is based on the average salary based on Ericsson’s total number of employees and total salary cost.Are social costs included, including pension, The average salary in the Swedish telecom group was just over SEK 637,000. Börje Ekholm’s total compensation of just over SEK 55 million for 2021 is 87 times higher than the average. His total package is then reduced by the SEK 9.5 million paid to him in cash, when he not covered by the Swedish pension system through their residence in the United States. Jesper Mothander

Click to rate this post!
[Total: 0 Average: 0]
Next Post

Founder of Zcash tears community apart and raises concerns about the future of cryptocurrency

Zooko Wilcox. Photo: CoinDesk Created as a copy of Bitcoin with private transactions, the cryptocurrency Zcash (ZEC) suffers from a fierce internal debate and the community begins to fall apart. Late Saturday (5/14) Zcash founder Zooko Wilcox released a devastating article for the cryptocurrency ecosystem. Published on Medium, the article […]
Founder of Zcash tears community apart and raises concerns about the future of cryptocurrency

Subscribe US Now