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Qwest CEO saw 2009 compensation rise as net profit fell

By Andy Vuong
The Denver Post

March 18, 2010

Even though Qwest posted a 39 percent drop in net profit and a 9 percent drop in revenue in 2009, chief executive Ed Mueller enjoyed a 6 percent bump in pay for the year.

Mueller received total compensation of $12.1 million, including a base salary of $1.25 million and a cash bonus of nearly $2.5 million, according to the Denver- based company's proxy statement.

He was paid $11.4 million in 2008, with a base salary of $1.2 million and bonus of $2.25 million.

Mueller's 2009 compensation included $7.6 million in stock awards. Other compensation included personal use of the corporate jet valued at roughly $249,000. Qwest also covers maintenance costs associated with Mueller's home-security system.

Teresa Taylor, appointed as chief operating officer last August, was the next- highest-paid executive, receiving total compensation of $5.6 million.

Chief administrative officer Rich Baer received $4.5 million; chief financial officer Joe Euteneuer, $4.3 million; and executive vice president Dan Yost, $2.9 million.

Qwest stock closed Wednesday at $5, the first time it's hit that mark since 2008.

Andy Vuong: 303-954-1209, avuong@denverpost.com or twitter.com/andyvuong