Colorado

Mar 23, 2010 1:07 PM by Bea Karnes, News First 5

Qwest CEO pay increases 5 percent to $12M in 2009

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.

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