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Business

No More Stock Options for Telekom Brass

Deutsche Telekom will no longer use stock options as incentives for its top executives. Intsead, pay will be based on performance. In getting rid of the disputed stock option program, Telekom was reacting to massive criticism from its shareholders. Already in 2003, after protest from investor watchdogs, Telekom management had voluntarily stopped accepting stock options. In the future, the giant telecommuncations concern will use a performance based remuneration system that follows suggestions fo the German codex for business leadership. Pay will now be based on the achievement of personal goals, company success, and company stock price.