AT&T’s Randall Stephenson, who engineered a big deal to merge with Time Warner last year, pulled in the biggest pile of payola in North Texas last year, a whopping $28.4 million, according to a database of executive pay compiled by the Star-Telegram.
The Dallas CEO passed up a perennial big dog: former Exxon Mobil chief Rex Tillerson, who was paid $27.4 million in his final year at the Irving oil giant before heading off to Washington to become U.S. secretary of state.
In Fort Worth, Don Horton, chairman of the homebuilding giant that bears his name, led all executives with a package worth $17.8 million. (D.R. Horton is moving its headquarters from downtown Fort Worth to a new facility in Arlington this spring.)
Also high on the list: T.M. “Roe” Patterson, CEO of Basic Energy Services, an oilfield servicer that moved to Fort Worth from Midland in 2012. Patterson recorded a pay package worth $13.1 million for a year in which he led the company through a prepackaged bankruptcy reorganization to restructure the company’s debt.
Other top earners in Fort Worth included Doug Parker, chairman and CEO of American Airlines Group, $11.1 million; Jeff Ventura, chairman and CEO at Range Resources, $9.9 million; David Auld, CEO at D.R. Horton, $9.6 million; Paul Raines, CEO at GameStop, $7.8 million; Orlando Carvalho, executive vice president at Lockheed Martin Aeronautics, $7.1 million; Tom Klein, former CEO at Sabre, $6.9 million; and Rick Wessel, CEO at FirstCash, $6.2 million.
We gathered our figures from annual disclosures filed by public companies with the Securities and Exchange Commission. Each public company is required to report compensation for their five top-paid leaders, including details on salary, stock awards and other forms of pay.
Seventeen area executives pocketed more than $10 million last year while more than 110 earned more than $1 million. Thus far, we have compiled data on nearly 200 North Texas executives from about 40 companies. We’ll keep adding names and information, so take a look at www.star-telegram.com/news/business.
DFW to Rome and Amsterdam
With Italian accordion music, meatball pasta and a blessing from Dallas Bishop Edward Burns, American Airlines launched seasonal service to Rome from Dallas/Fort Worth Airport on Friday.
The Fort Worth-based carrier plans to operate the route with a retrofitted Boeing 777-200 through September. It launched seasonal service to Amsterdam on Friday as well.
The Rome and Amsterdam routes expand DFW Airport’s nonstop flights to European destinations. The airport has been offering incentives to carriers that launch new service across the Atlantic.
“From May to September last year, 10,000 people traveling to Rome began their trip here in DFW,” said John Ackerman, DFW Airport’s executive vice president of global strategy and development, noting that the airport anticipates there is demand for the new routes.
The airplane American used on the inaugural flight was the same plane used to fly Pope Francis around the U.S. during his 2015 visit. The same pilots who flew the pope, Capt. George Griffin and First Officer Tom Murray, also flew the DFW-Rome inaugural flight.
Sprint adding stores
Now that Sprint has ended its alliance with RadioShack, it’s expanding on its own.
The nation’s No. 4 wireless provider said recently it plans to add 79 stores in Texas this year, including 10 in Dallas-Fort Worth.
The expansion will include 14 stores formerly occupied by RadioShack and Sprint in a partnership that dissolved earlier this year. In DFW, nine new stores are being added while one is being converted from a former RadioShack, Sprint spokesman John Votava said.
Currently, Sprint has 113 locations in North Texas where customers can find its products and services, including 34 corporate-owned stores. Sprint expansion in the DFW market could extend to 20 new stores, Votava said.
New locations will include McKinney, Grand Prairie and Mansfield.
RadioShack filed for bankruptcy in March, saying a partnership with Sprint failed to generate the anticipated revenue. The companies had teamed up to co-brand hundreds of stores in 2015 when RadioShack came out of its previous bankruptcy. The agreement was terminated in March.