Sprint Boosts CEO Target Bonus, Drops Link to Clearwire Success
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Sprint Nextel Corp. boosted a target bonus for Chief Executive Officer Dan Hesse by 18 percent and dropped as an explicit component of measuring management success the Sprint customers on partner Clearwire Corp.’s network.
Sprint, the third-largest U.S. wireless provider, increased Hesse’s so-called short-term incentive bonus by $720,000 from last year to as much as $4.8 million for 2011, according to a filing today. The carrier kept Chief Financial Officer Bob Brust’s potential bonus at $2.6 million.