Who is benefiting from the surge in T-Mobile‘s stock? One person is CEO Mike Sievert. As of today, the executive owns 438,124 T-Mobile shares with an estimated value of $85 million. The largest stockholder is Deutsche Telekom which owns 31.43% of the stock. Typically, stock market analysts like to see a chief executive own a large block of company stock so that the CEO has an incentive to get the business moving in the right direction.
Current T-Mobile CEO Mike Sievert has a reason for smiling. Reps and customers? Not so much.
As T-Mobile shares continue to make new all-time highs, the pressure continues to rise on T-Mobile reps to meet their metrics or find themselves losing their jobs. It is obvious that there has been a sea change at T-Mobile. Under former CEO John Legere, the company’s top executive focused on the customer. Under Legere’s successor, Mike Sievert, the focus seems to be on the stock.
Why do I say this? Setting metric goals for reps that seem unreasonable and require fraud to meet is done to keep the top and bottom lines growing. And many professional investors look at growth in revenue and net income when deciding which stocks to buy. So while we can congratulate T-Mobile executives and stockholders watching in glee as the company’s stock continues to rise, many T-Mobile reps and customers are not happy at all.
