AT&T CEO to Retire, Collect $158+ Million

Ka-ching! From the WSJ article:

In addition to his $158.5 million pension package, Mr. Whitacre in retirement will have $24,000 in annual automobile benefits, $6,500 in “home security” each year and access to AT&T’s corporate jet for 10 hours a month, according to AT&T’s proxy filing with the Securities and Exchange Commission.

The Texan and his family will also receive free health insurance for life. The company will pick up the tab for taxes on most of these benefits. And he will be paid just over $1 million a year for three years for work as a consultant to the company during his retirement. For that period of time he will also receive $25,000 to cover his country-club fees.

The man did create tremendous value for shareholders; it’s true. But here’s what I think about a retirement package that large: “It’s wrong. It’s just wrong.” 🙂

One Response to “AT&T CEO to Retire, Collect $158+ Million”

  1. Dick Larkin Says:

    I have two thoughts.

    1. That payout is obscene.

    2. How can I get one?

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