News - Local
Qwest CEO pay increases 5 percent to $12M in 2009
Posted: Mar 23, 2010 11:07 AM by Bea Karnes, News First 5
Updated: Mar 23, 2010 11:07 AM
Did you endure an unpaid furlough last year? Sweat over job security as the nation's unemployment hit 10 percent?
Qwest CEO and Chairman Edward Mueller wasn't sweating. His pay increased 5 percent to $12 million in 2009, a year in which the company faced a weak economy and deteriorating demand for telephone land lines. Denver-based Qwest cut about 2,800 jobs, or roughly 8.5 percent of its work force, as Mueller's compensation increased.
The Associated Press' executive pay calculation, based on a regulatory filing, aims to isolate the value the company's board placed on the CEO's total compensation package.
As Seen On News 5
