If you chose a very high number and said the average salary at Verizon was $200,000.00 a year, that would mean Hans makes more than 100 times the average wage, plus stock options. His VSP letter starts out telling everyone how great things are, then transitions to we need to reduce costs in order to guarantee share holder return. Next he mentions how anyone that does not accept the VSP needs to be 100% behind the nest chapter of Verizon that they are creating. Isn't the CEO suppose to provide the vision and direction. I don't see a single thing about what the plans are for the future. Just that we need to cut and if you stick around you will need to be all in on whatever they decide to do in the future. Hans what is your vision of the future for Verizon?
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But, but, but…Hans is running a multibillion company!!!!
into the ground
It’s important that we cut costs aggressively for the next chapter….as long as it doesn’t come from those at the top. That’s the true VZ way.
Former employee here, left in Fall of 2024.
Spot on with “no vision”.
If they have a vision, I’m assuming employees aren’t a part of it, or the part they are willing to share.
Hope that every single person can find the success outside the walls, that is needed.
They have no vision. That's the problem.
WOW! Check out the T-Mobile CEO…521 times the very low median!
OP, no need to take a guess. As per the SEC Rules, the Proxy Statement must disclose the CEO “Pay Ratio”. For 2023, the ”annualized total compensation of Mr. Vestberg was $24,152,824.” The median compensation for ALL VZ employees, excluding Mr. Vestberg , was $167,334. Divide CEO Pay by the ”Employee Median Pay” to get the 144 Pay Ratio.
For ranking and comparison, CEO World has a good article, ”Ranked: Highest-paid CEOs in America”. The CEO Pay is in millions. Below is a quick sample of the competition. The ”Employee Rank” column ranks the medians as compared to the #1 median, Meta Platforms at $379,050. The list has 414 CEO’s.
CEO RANK | CEO | COMPANY | CEO PAY | Employee MEDIAN | Employee Rank | Pay Ratio
16 | Mike Sievert | T-Mobile | 37.49 | $72,004 | 243 | 521
55 | John Stankey | AT&T | 26.45 | $137,176 | 76 | 193
72 | Hans Vestberg | Verizon | 24.13 | $167,334.00 | 45 | 144
Wilson, Despina. (2024, May 30). Ranked: Highest-paid CEOs in America. CEO World. https://ceoworld.biz/2024/05/30/ranked-highest-paid-ceos-in-america/
https://www.verizon.com/about/investors/sec-filings
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