AT&T Execs Well Compensated After Good Performing Mergers
In 2007, AT&T (NYSE: T) executives were well compensated. Randall Stephenson, chairman, president and CEO, received total compensation of nearly $22 million, jumping from $14.6 million in 2006. Stanley Sigman, who was president and CEO of AT&T Mobility until retiring at the end of the year, received compensation of $36.9 million, increasing from $28.6 million in 2006. His replacement Ralph de la Vega, who came from Cingular, received $12.4 million in 2007. Total compensation from all executives included millions of dollars in stock rewards, which AT&T is required to expense for awards granted in 2005, 2006 and 2007 that mature in 2007 or later. When only taking salaries and cash bonuses into account, Stephenson made $1.8 million; Sigman made $1.4 million and de la Vega made $1 million. The findings were reported today in the company's Proxy, which it filed with the SEC.
Leading up to 2007, the company under went dramatic change. In 2005, SBC Communications acquired AT&T to create the new AT&T, which included part ownership of Cingular Wireless. AT&T went on to acquire BellSouth in 2006, which allowed the company to fully integrate Cingular. Since then, it has been refining the much larger company, and focusing on its wireless division, including the high-profile and successful launch of Apple's (NSDQ: AAPL) iPhone last year.
In the company's Proxy, it makes a note of these acquisitions, saying it has "transformed the company into a premier global telecom competitor, creating substantial value for our stockholders...In 2007, our stock price increased by 16 percent, resulting in a total stockholder return (including the reinvestment of dividends) of 21 percent. During 2007 the wealth of our stockholders increased by over $28 billion in market value and over $8.7 billion in dividends."
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