Enlarge image
T Mobile Earnings: Top earner John Legere (right), who left T-Mobile in April 2020, will receive around $ 137 million for 2020.
His successor Mike Sievert (left) does not have to suffer with $ 55 million either
Photo: Stephen Brashear / AP Images
At the end of April 2020,
John Legeres
(62) was the last working day as head of the Telekom subsidiary T-Mobile US. This did not prevent the sales and self-marketing genius Legere from taking more than three times as much money for 2020 as the current T-Mobile US boss
Mike Sievert
(51) earned in the entire year. Legere's earnings were more than $ 137 million, according to a statement to the US Securities and Exchange Commission, while Sievert cashed around $ 55 million for 2020. Both, Legere and Siewert, leave Telekom boss Tim Höttges far behind in far Bonn. Höttges received a total of 7.2 million euros for 2020 and is currently negotiating a significant surcharge.
The additional windfall for Legere, who has been a top earner at Telekom for years, comes primarily from the successful merger of T-Mobile US with US rival Sprint. The T-Mobile share has grown immensely in value over the past few years, and sales and profits have also risen sharply before the merger. For Deutsche Telekom, the US market is now more important than the German home market and is by far the most important profit maker.
This is also a credit to Legere, who was lavishly rewarded for his work from the first day of work.
The bonuses and stock options that are now due result in a three-digit million sum for Legere - but the decisive lever was the merger with Sprint, which, after several years of negotiations and a tough dispute with the regulatory authorities, could not be sealed until April 2020.
With that, Legere's mission was fulfilled, a few weeks later he said goodbye and was replaced by Sievert.
The price of T-Mobile shares rose around 72 percent in 2020.
This was also a compensation boost for Sievert, whose income consisted largely of stock options.
T-Mobile US is now the second largest wireless operator in the USA.
la