Tag Archives: Ivan Seidenberg
Fortune Says iPhone Is Expected To Be On Verizon By Early 2011
Fortune has confirmed that the Apple iPhone will be released in early 2011. Analysts are estimating that next year Verizon could even sell 8-9 million iPhones. Verizon CEO Ivan Seidenberg believes that the network will be able to handle large amounts of data demands, especially considering how much the Motorola Droid data is consumed. The Verizon iPhone will be on the 3G CDMA network, which means that it won’t work much outside of the U.S. [Fortune]
Lowell McAdam Hired As Verizon’s President and COO
Verizon Communications Inc. (NYSE:VZ) is expected to name Lowell McAdam as President and COO. McAdam is next in line to succeed Ivan Seidenberg. McAdam led Verizon Wireless since 2000. Verizon became the country’s largest mobile carrier based on subscribers in 2006.
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Verizon Exec Salaries Backed By Shareholders
Verizon executives have passed the test regarding whether their salaries are justifiable. The test took place this past Thursday and the salaries had won major approval from shareholders. The vote took place at Verizon’s annual shareholder meeting in Louisville where compensation for CEO Ivan Seidenberg and other executives were question.
“They can always do better,” stated Association of BellTel Retirees President Bill Jones. “And this is one of the areas where we can continue to work with them.” Jones himself wasn’t too happy about the executive salaries. Verizon has been able to outperform companies in broader markets in very recent years. Seidenberg’s overall compensation was $20.2 million in 2008. Currently he is the best paid CEO out of all of the telecommunications companies.
The vote for the salary is part of the “say on pay” provision being pushed by the BellTel Retirees group. This “say on pay” provision vote will be voted upon every year going forward.