Verizon fails, rewards CEO
Ivan G. Seidenberg, of Verizon Communications, was given a large pay raise this past year.
Ivan G. Seidenberg, of Verizon Communications, was given a large pay raise this past year. Ivan recieved $19.4 million dollars overall. This was almost 50% more than he had recieved the last year. The stock had fallen by a whopping 26%, and the company had earned 5.5% less than last year. Apparently, Hewitt Associates recommended such a large raise for Ivan. It is also known that Hewitt Associates has recieved more than $500 million from Verizon for consulting. Many see it as a bribe almost, as Hewitt gets Ivan more money, and he does everything he can to keep them around and making money off his company.
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