Postcards
Power Point: No bonus for me!
February 2, 2009: 3:59 PM ET"I felt it was the right thing to do. We are a company that expects the highest performance and accountability, and that starts at the top."
- AT&T (ATT) CEO Randall L. Stephenson, in a memo to employees about forgoing his 2008 bonus. Here's a boss who (unlike the Wall Street honchos) didn't have to give it up. In fact, Stephenson's decision distinguishes him as a very different kind of leader than Ed Whitacre, his predecessor. Click here for more on that from my Fortune colleague, Stephanie Mehta.
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AT&T CEO declines bonus, breaks from predecessor
by Stephanie Mehta
Pattie Sellers recently blogged about good and bad corporate behavior. Here's another example to add to the "good form" category: AT&T chief Randall L. Stephenson is forgoing his 2008 bonus.
"I asked the board not to pay me a bonus for 2008, and they approved that request," Stephenson wrote in a memo to employees. "Given the economic environment, the workforce reductions, and our earnings outlook for 2009, I felt MORE
Patricia Sellers - Feb 2, 2009 1:41 PM ET
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Fortune senior editor at large Pattie Sellers has written some of Fortune's most talked-about cover stories, including "Marissa Mayer: Ready to Rumble at Yahoo," "Oprah's Next Act," "Can Meg Whitman Save California?" "The $100 Billion Woman" (Melinda Gates), and "Remodeling Martha" (Martha Stewart). She has helped oversee Fortune's "Most Powerful Women in Business" package every year since its launch in 1998. Pattie is Executive Director of the Fortune Most Powerful Women Summit, the preeminent gathering of women leaders in business and beyond. She oversees MPW programs that enable women leaders to extend their influence and empower the next generation—such as Fortune MPW Entrepreneurs and the Fortune-U.S. State Department Global Women Leaders Mentoring Partnership. Beyond her Fortune duties, she is also developing Live Content across Time Inc. Pattie grew up in Allentown, PA, graduated from the University of Virginia, and started at Fortune in 1984. Her blog, Postcards, is about how power players lead, manage others, and navigate their careers.
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