AfterDawn: News

Sprint CEO to take pay cut after iPhone investment

Sprint CEO Daniel Hesse has confirmed he will take a paycut this year following the company's expensive expenditures to get the iPhone.

Hesse will repay $346,000 he has received and will forfeit all additional incentive pay.



"These voluntary actions regarding my personal compensation, which total $3,250,830, will eliminate any benefit for me to the discretionary adjustment the compensation committee made earlier this year," added the exec.

Sprint invested $15 billion on the iPhone earlier this year, gaining access to the popular smartphone for the next 5 years.

However, Sprint pays Apple a huge amount for the luxury of having the device, paying a subsidy that is $199 more per device than it pays for other smartphones.

Written by: Andre Yoskowitz @ 6 May 2012 19:56

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• 3 comments

• Burnasty

  "Sprint invested $15 billion on the iPhone earlier this year, gaining access to the popular smartphone for the next 5 years."
  
  Money that would have been better spent acquiring exclusive rights to the galaxy nexus and just getting the nokia lumia.
  

  Buy the ticket, take the ride. -H.S.T.
  

  6.5.2012 21:57 #1

• LordRuss

  He probably took a beating on his personal taxes this year. This way he can claim loss on his income taxes for next year & it'll be like an early X-mas.
  
  That or he's being chauffeured by some headhunters that the general public doesn't know about. It's all the greasy little games the elitists like to play.
  

  http://onlyinrussellsworld.blogspot.com

  7.5.2012 11:51 #2

• Andrewwat

  The main thing is forecasting which can not be avoided, so it can give some fruitful output and the financial result of mobile application and their devices are totally depends upon the behavior of the market and the application being used through the devices.
  

  9.5.2012 01:13 #3