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Verizon raises salaries of CEO, others

12
Feb
2014

(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. 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. …

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