AAPL Stock: 118.03 ( -0.85 )

Printed from

Sprint Nextel CEO sacrificing performance bonuses

updated 08:54 pm EDT, Fri May 4, 2012

Hesse voluntarily surrenders cash due to iPhone-related losses

Following a loss of profit due to iPhone subsidies to consumers, Sprint Nextel CEO Daniel Hesse said he would take a pay cut this year. Hesse reported his 2012 salary would be cut to repay $346,000 he has already received in performance bonuses, and he will voluntarily surrender additional cash from 2011 and 2012 incentive plans.

In a memo to his human resources department, Hesse wrote "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."

Sprint's subsidy to Apple is $200 higher per device sold than what it pays other manufacturers for phones. Sprint reported serious losses in its winter quarter, yet gained subscribers with the sale of 1.5 million iPhones in the same period of time.

by MacNN Staff



  1. facebook_Ben

    Via Facebook

    Joined: May 2012


    This CEO will not be starving!!

    I dont think this CEO will be starving or giving up memberships to his country clubs.

    He will be just fine.

Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented