John Legere left T-Mobile with a severance package of over $136 million

Shawn Knight

Posts: 13,172   +132
Staff member
The big picture: John Legere was instrumental in pulling T-Mobile out of the slumps, and really, he helped revolutionize the entire mobile industry. Those actions didn’t go unnoticed by T-Mobile as the company compensated him handsomely upon his departure.

Former T-Mobile CEO John Legere announced in late 2019 that he would be leaving the company the following year and made good on that promise on April 1, 2020 – the same day T-Mobile completed its merger with Sprint.

In a recent filing with the US Securities and Exchange Commission, T-Mobile revealed that Legere had a base salary of $600,000 in 2020 for his three months of service. He also received $136,545,887 in severance payments which consisted of cash payments, accelerated equity vesting upon termination and 18 months of health insurance coverage.

He even received nearly $40,000 in reimbursement for moving expenses.

Legere has largely stayed out of the spotlight over the last year. While still active on Twitter, he hasn’t announced any major career moves since leaving T-Mobile. At age 62 and with his severance package alone, he could comfortably ride off into the sunset… but people like him don’t have a history of being idle for very long.

Image credit Vadi Fuoco

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ZedRM

Posts: 447   +249
A prime example of what's wrong with modern capitalism and mega corporations
Wrong. His leadership turned a lack-luster company into something very cool and very profitable. $136million is less than 1% of the over-all profits and growth TMobile as gained since he took the reins. If TMoible were a company floundering and dying, you would be right but that's not what is going on here. TMobile is thriving and John's severance package is WELL EARNED.

Context is important..
 

FF222

Posts: 263   +205
Wrong. His leadership turned a lack-luster company into something very cool and very profitable. $136million is less than 1% of the over-all profits and growth TMobile as gained since he took the reins. If TMoible were a company floundering and dying, you would be right but that's not what is going on here. TMobile is thriving and John's severance package is WELL EARNED.

Context is important..
1. You can't even spell T-Mobile correctly. That tells everything about how much knowledgeable you're in these matters.
2. T-Mobile's profits did not soar more under Legere than did for ex. Verizon's in the same period. It was the market that expanded, not Legere's magic formula that made profits grow.
3. T-Mobile's profits soared 50%+ in the year _after_ Legere stepped down as a CEO (source: T-Mobile US total revenue 2009-2020 Published by S. O'Dea, Mar 12, 2021)
4. Even if all above wouldn't be true, and T-Mobile would have performed exceptionally well under his reign, that still would mean only correlation, not causation, per se. See point 2.
5. He obviously got very well paid and rewarded while he was CEO, so, there's even less reason to pay him a huge amount of money extra after he left.
6. Only those weak in the mind think that what they perceive as "coolness" is actually some kind of merit, and not subjective anyway. Then again, they also can't spell T-Mobile correctly to begin with.