AT&T board cuts pay of CEO by $2.08M
2/22/2012NEW YORK -- AT&T Inc.’s board cut Chief Executive Officer Randall Stephenson’s 2011 pay by $2.08 million because he engineered the failed deal to buy T-Mobile USA, according to a regulatory filing Tuesday.
Opposition from federal antitrust regulators forced the Dallas-based phone company to give up on the $39 billion deal in December.
After the cuts, Mr. Stephenson was paid $18.7 million in 2011.