TELUS President and CEO Darren Entwistle has announced that he will indefinitely receive his entire salary in shares. This decision comes on the heels of TELUS reporting strong financial results and industry-leading customer additions.
Entwistle’s choice to forgo a cash salary in favour of shares is a demonstration of his belief in the company’s strength and the capabilities of the TELUS team, according to a press release. This approach is not new for Entwistle, who took his salary entirely in shares for six years between 2010 and 2015.
By investing significantly in TELUS shares, Entwistle aims to align his interests with those of the shareholders. In 2023, he purchased 395,843 common shares and held a total of 799,209 TELUS common shares by the end of the year, an amount approximately 12 times his base salary in share ownership.
TELUS, a major communications technology company, boasts over $20 billion in annual revenue and 19 million customer connections. The company operates in 32 countries and has a diverse portfolio that includes TELUS Health and TELUS International, among others. TELUS is also recognized for its substantial contributions to community service, having donated $1.7 billion and 2.2 million days of service since 2000.