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Hesse Sees a 31 Percent Increase in Compensation, as Sprint’s Finances Continue to Stumble

Posted In News - By Mark Hearn On Tuesday, March 27th, 2012 12:09pm PDT With 16 Comments

As Sprint continues to wrestle with financial drama ($1.3 billion net loss in 2011), the Now Network’s commander-in-chief Dan Hesse still managed to see a 31% bump in compensation. A recent regulatory filing spilled the beans revealing that Hesse saw a payout of $11.9 million in 2011, eclipsing his 2010 compensation by a bit over $2 million. In addition to an increase in pay, Hesse also received stock awards of $3.22 million and non-equity incentive plan compensation of $4.84 million. With Sprint’s shares dropping 45% in 2011, odds are that Hesse’s increase in earnings won’t be winning over many investors and financial analysts, as his judgement has already been called into question. Hesse, you’ve got some ’splainin to do!

Source: Bloomberg

About - Mark is the founding father of SprintFeed. He is a nerd's nerd if ever such a thing existed. His love affair with the Now Network started with the release of the Treo 600 back in 2004 and has been going strong ever since. Highly opinionated and somewhat eccentric he shares his ramblings about his network of choice here at SprintFeed.

Displaying 16 Comments
Have Your Say

  1. Perez82i says:

    Crook

  2. Jesseperez88 says:

    they need to get rid of his ass

  3. Davidksims says:

    I would not say entirely his fualt. Just like pro althets, they can sign a $100M, 10 year contract with $30Million guarteened. If you sit on the bench for a year, they still owe you $20Million (one year salary plus the guartenee part) Shawn Bradley, the 7’3″ white boy for the Sixers prefected this. He got a $100Million guartenee from the Sixers but they sent him packing up the turnpike to the Kincks with money in hand!!! Or look what Albert Haynesworth did to Washington Redskins. They dumped his ass with $60million and sent him packing to NE, who also sent him packing with $$$.

    My point is, plenty of CEO signon for Guarteneed bonuses, that how companies lure them from other companies. So weather Sprint had 1500% profit vs. the 45% loss last year, he would have gotten the same. Not to mention, I’m not mad at him, its the board that is jacking his game!

  4. KingP says:

    FWIW, the board approved his compensation, before he came on board.

  5. Patrick (on the planet) says:

    dick!

  6. N529sl says:

    Where else could you make decisions like a mult. billion dollar deal with a predatory company like Apple, a deal that almost certainly lead to bankruptcy, and they give you a raise.
    What a country.

  7. David Sims says:

    True but not entirely. LTE was not available at the time, Sprint Board of Directors wanted to have the first 4G phone, it was “Take WiMax or lose it” he did. He wanted to get that other cell company for the immediate LTE towers they had, borad block that too. Personally, I think the iPhone deal was good as we use more and more data, the usual villans are throlloting pushing them to Sprint. There were a few other things he wanted to do that were blocked.

    So, If he got to do all he wanted to do and they crashed 45%, on him. He did not, so go back to the BofD and tell them Told You!

  8. ChadBroChillz says:

    The choice of Wimax happened before him. The only plan he was apart of was selling the spectrum to clearwire.

    iPhone deal is leading to new customers and retaining old customers. When choosing a provider, people seem to care about three major things, Phone, Pricing, and Network/Coverage. Their NV plan will improve their coverage and increase network capacity plus speeds. They have some of the best prices, especially if you use a lot of data, and they are trying their best to get the latest and greatest phones. They have a deal for the iphone. they are getting a HTC one X. they always seem to get their own Galaxy S variant. According to Sprintfeed, they are working on getting an Windows Phone 8 headset. Plus to keep customers happy they are improving purchase experience(#1 according to JD power) and Customer Service(#2).

    I do not agree with everything Hesse does, but this guy has been putting sprint on the correct track to compete and not die a slow painful layoff and price hike filled death( tmobile)

  9. F1 says:

    “Disgusted”

    Thank You

  10. ClayRogers says:

    That’s all you get for being the CEO of Sprint? Seems pretty low to me.

  11. gerryf19 says:

    $11 million seems low to you? Who are you, Bill Gates?

  12. John says:

    shareholders should be outraged. CEO compensation should be directly tied to the long term performance of the stock. IMO a CEO should not see a 31% increase in compensation when the stock is down 45%. we need to get back to ownership-capitalism and away from manager-capitalism. stockholders own the company and the stockholders should be put first – not management – especially when they fail the stockholders! i have no problem paying for performance – but why are we rewarding and paying for failure?

  13. Davidksims says:

    @John, were you born in the woods with no magazines, TV or electricity? The political Sytem in Washington has been doint this for over 200 Years!!!! Want an example? Lets say I get elected when I am 30. I serve 4 years and the people vote my a** out! No problem you know why? They keep that salary and benefits for LIFE!! No matter they get a job at the local McDonalds for life, they still keep that government loot!

  14. Anton Frost says:

    Big surprise? Sign on bonuses and guaranteed compensation are the American way if you want a certain executive. Everyone does it. Everyone gets it. And when they boot them out, they get a golden parachute. So there isn’t a lot of incentive when you basically get money that isn’t tied to performance of the company stock. Let’s see if Sprint is around for next year’s iPhone whatever they call it then.

  15. mohammad yasin says:

    Seems to me Sprint making money not losing money, in this case !

  16. Nicky427 says:

    Took him 8 years to figure out that WiMax draws too much current, sn then only AFTER he sold contracts to consumers CHARGING them for 4G that never materialized. Any who knows Sprint realizes there are too many horrors to list here. Yeah, give yourself a raise.

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