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TELUS CEO bets the farm to achieve 2010 targets
Earlier today we wrote a short article about TELUS’ plans for 2010 and how they are forecasting about a 9% increase in their wireless business. During the investor relations conference call CEO Darren Entwistle has bet the farm to achieve these results… OK, maybe not the farm as he’s taking TELUS stock in lieu of salary.
He said “I’m confident in the opportunity that our company has in the coming quarters and years ahead in creating sustainable value… Accordingly, I’ve recently informed the Telus board of directors that I’ll be taking the entirety of my 2010 annual cash salary compensation net of taxes in Telus shares.”
According to Forbes his 2008 base salary was $1,225,000.00 and a total compensation of $6,889,216.00. That’s good I guess… so is this a real risk for him? Betting $1.2 worth of stock? It will help the $75 million of restructuring and workforce reduction expenses.
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4 comments for “TELUS CEO bets the farm to achieve 2010 targets”
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I’d hazard a guess that this is because he knows about some sort of merger with bell happening this year and he expects to make an awful lot when bell buys those shares.
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I dunno why everyone’s talking about Telus failing or merging – MAYBE to gain more presence in the East, but in the West Telus reigns…
A Bellus merger would be pretty juggernaut-ish though…
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Telus is traded as an investments company on the TSX. Telus and Bell can’t and won’t merge to become Bellus. If anything, Bell might sell their mobile division to Telus since Telus Mobility is doing a hell of a lot better than Bell Mobility, and considering where Bell is headed with their poor customer service and bill mishaps year after year, that might be a possibility but highly unlikely.
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well i agree that he would only gain more by taking stock.. if i had millions in tha bank i’d do tha same…..
its just ridiculous how much telcomm bigwigs make.. no wonder canadian cell rates are so inflated.. hope he’s happy bankrupting the public while he whipes his ass wit hunderd dollar bills
lol
i kno i would be
lol
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