We weren’t the only ones to notice Sprint CEO Marcelo Claure’s big first payday at the Overland Park-based wireless carrier.
LightReading singled out Claure as the top earner among the world’s largest telecommunications service companies. Its rankings were based on various sources for the companies’ compensation reports on their executive ranks. An earlier Kansas City Star report had also noted Claure’s hefty initial compensation package.
Claure topped the list with nearly $21.8 million in cash, stock and other compensation. It bested his CEO counterparts at AT&T, T-Mobile US and Verizon Communications, as well as his predecessor at Sprint, Dan Hesse.
Hesse had earned almost $10.6 million as Sprint changed directions, dropping its hopes of merging with T-Mobile, and changed CEOs last August.
Here was LightReading’s reading of Claure’s pay in a post titled “Because they’re worth it?”
“Has Claure justified his inflated paycheck? We’ll not offer judgment on that … but it’s worth noting that Sprint’s share price has fallen by 57 percent since this time last year, just days before Claure took over.”
One reason Claure topped the field was the expanded nature of his pay deal when Sprint hired him.
Sprint spokeswoman Jennifer Schuler had explained previously that Claure’s stock and options compensation counted some grants for Sprint’s completed 2014 and its currently underway 2015 fiscal years. The company made equity grants to Claure covering both years when he became CEO last summer.
Not surprising, the U.S. field of telecom CEOs lapped the rest of the planet’s contenders.
The list also includes Claure’s boss, Masayoshi Son, CEO of Tokyo-based SoftBank, which owns 80 percent of Sprint. Son’s compensation, LightReading said, was just short of $1.2 million.
Anybody else outearning the boss?