T-Mobile US extends CEO contract by five years - Mobile World Live

T-Mobile US extends CEO contract by five years

10 MAR 2023

T-Mobile US filed paperwork with the US Securities and Exchange Commission to extend the contract of president and CEO Mike Sievert (pictured) by up to five years, updating a contract he signed in 2019 to succeed John Legere.

Sievert’s deal covers the period to 1 April 2028 with the option for annual extensions. Any notice period would span 90 days.

An annual base salary of $1.7 million came into effect at the start of the year, with automatic increases in place along with long-term incentives of restricted stock worth up to $18.5 million.

The CEO is also in line for a one-off award of common stock on 1 April equal to $10 million divided by the average closing price over the 30 days to 27 March.

Recon Analytics analyst Roger Entner told Mobile World Live Sievert’s on-target earnings will be level with, or above those of AT&T CEO John Stankey and Verizon CEO Hans Vestberg.

He argued T-Mobile was keen to prevent “turbulence” in its management, adding the move also gives it “a lot of room for succession planning”.

Entner cited Callie Field, president of T-Mobile’s business group; president of marketing, innovation and experience Mike Katz; and consumer group head Jon Freier as likely internal successors, unless parent Deutsche Telekom “goes crazy and parachutes over an executive”.



Mike Robuck

Mike Robuck is the U.S. Editor at Mobile World Live. He joined the Mobile World Live staff in February of 2022. Prior to joining GSMA, he was editor of FierceTelecom and of Light Reading’s Telco Transformation microsite. He has a...

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