The Associated Press has found that the total compensation of Verizon Communications' CEO fell 14 percent in 2009 amid layoffs that accompanied the decline of the company's fixed-line phone business.

Ivan Seidenberg received compensation in fiscal 2009 valued at $17.5 million, down from $20.2 million the year before.

The second largest U.S. phone company saw its yearly revenue grow 11 percent last year, but net profits fell 18 percent. Its shares rose 4 percent in 2009.

The AP's executive pay calculation, based on a regulatory filing, aims to isolate the value the company's board placed on the CEO's total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.

Join the Discussion

 Average 0 out of 5

Ten-Yard Penalty, Failure to Engage Via Mobile

7 hours ago

I was about as impressed with attempts to integrate mobile with this year's Super Bowl as I was with the Green Bay Packers’ effort during their NFC divisional playoff loss to the New York Giants.

LightSquared Deserves a Hearing

Feb 2

The government should figure out how the LightSquared saga came to be.

In Other News: Patents

Jan 13

The tech industry may have had its attention focused on gadgets this week due to the annual hullaballoo at the 2012 International CES show in Las Vegas, but at least a few people were thinking about the patented inventions that make those electronics work.

Qualcomm Keynote at CES 2012 Recap

Jan 30

VZW Day One at CES 2012

Jan 30

Quick Look: Huawei Ascend

Jan 23