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AT&T board slashes CEO’s pay

Associated Press

  February 22, 2012

AT&T Inc.’s board cut CEO Randall Stephenson’s 2011 pay by $2.08 million because he engineered the failed deal to buy T-Mobile USA, according to a regulatory filing Tuesday. Opposition from federal antitrust regulators forced the Dallas-based phone company to give up on the $39 billion deal in December. That meant it had to hand over $4.2 billion in cash and spectrum rights to T-Mobile as a so-called “break-up fee’’ to compensate T-Mobile for the failure.

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