Or at least one reason, anyway:
Randall Stephenson, the AT&T Inc. chief executive who replaced a respected long-serving predecessor last year, earned roughly $18 million in compensation…
The traditional “justification” for such nonsense is that the CEO’s take is justified by how much value they (they?) created for their shareholders. That doesn’t hold much water:
Since the start of the year, however, AT&T’s shares have been pummeled by fears that the sputtering economy will hurt growth in revenue. Shares rose $1.44, or 4.2 percent, to $36.09 Tuesday but are still down about 13 percent this year.
Could it be just compensation his consideration of and respect for his customers? ……..Nah.