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Verizon raises salaries of CEO, others
February 11, 2014 / 9:07 PM / 4 years ago

Verizon raises salaries of CEO, others

Feb 11 (Reuters) - Verizon Communications Inc said it raised Chief Executive Lowell McAdam’s base salary by about 7 percent and his long-term bonus to 750 percent of his base salary from 625 percent.

McAdam’s total compensation for 2012 was $14 million, with a base salary of $1.4 million, according to a regulatory filing in March.

The company also approved salary raises for Chief Financial Officer Francis Shammo and Verizon Wireless head Daniel Mead on Tuesday.

Shammo’s total compensation for 2012 was $5.2 million while Mead’s was $6.4 million.

The base salary adjustments take effect from March 2.

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