Earlier today we wrote a short article about TELUS’ plans for 2010 and how they are forecasting about a 9% increase in their wireless business. During the investor relations conference call CEO Darren Entwistle has bet the farm to achieve these results… OK, maybe not the farm as he’s taking TELUS stock in lieu of salary.
He said “I’m confident in the opportunity that our company has in the coming quarters and years ahead in creating sustainable value… Accordingly, I’ve recently informed the Telus board of directors that I’ll be taking the entirety of my 2010 annual cash salary compensation net of taxes in Telus shares.”
According to Forbes his 2008 base salary was $1,225,000.00 and a total compensation of $6,889,216.00. That’s good I guess… so is this a real risk for him? Betting $1.2 worth of stock? It will help the $75 million of restructuring and workforce reduction expenses.