David A. Wittwer served as the CEO of Telephone and Data Systems (TDS) from January 1, 2007, until his retirement on December 29, 2017. Before his role as CEO, he was the Executive Vice President and COO of TDS Telecom,...

David A. Wittwer served as the CEO of Telephone and Data Systems (TDS) from January 1, 2007, until his retirement on December 29, 2017. Before his role as CEO, he was the Executive Vice President and COO of TDS Telecom, which gave him deep insight into the company's operations. Wittwer has a solid background in the telecommunications industry, having led TDS through various market challenges. His leadership was measured by strong performance metrics, with company targets often exceeded during his tenure. In 2016, his total compensation reached about $1.27 million, with his bonus reflecting 117.1% of his target, a strong indicator of his effectiveness as a leader. Interestingly, all his stock options expired at retirement, emphasizing TDS’s incentive structure focusing on performance. Beyond the numbers, Wittwer is noted for his methodical approach to management, which aligns closely with the performance goals of the organization, connecting employee welfare directly with corporate success. He also has a history of stability in leadership, having been with the company since 2005, which contributed to TDS's consistent market presence during his career.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Telephone and Data Systems CEOs

T

David A. Wittwer

Ex-CEO of Telephone and Data Systems

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Communication Services

CEO of Telephone and Data Systems for

18 years 1 month (Jan 2007 - Feb 2025)

Previous Experience

President of TDS Telecom's ILEC operations

Rivals

Competitors/colleagues of David A. Wittwer

U

Laurent C. Therivel

CEO of United States Cellular

2022 Compensation

Stock

$29.98K

Salary

$824.89K

Bonus

$750.87K

Other

$29.00

Total Holdings

$5.88M

Holdings

See how much did David A. Wittwer make over time.

During his time at TDS, David A. Wittwer's wealth was primarily tied to his performance and compensation structure rather than stock holdings. Notably, in 2016, he had vested stock valued at about $648,503, which represented about 23,265 restricted stock units....

During his time at TDS, David A. Wittwer's wealth was primarily tied to his performance and compensation structure rather than stock holdings. Notably, in 2016, he had vested stock valued at about $648,503, which represented about 23,265 restricted stock units. However, he had no vested stocks or options in 2017 due to their expiration coinciding with his retirement. Prior to that, his compensation often included sizable bonuses, such as a $586,100 bonus in 2016 reflecting excellent company performance metrics. This setup underscores a unique aspect of corporate governance at TDS: it was less about accumulating personal stock and more about aligning his incentives with the company’s success overall, promoting long-term shareholder value without being reliant on stock market fluctuations.

Total Stock Sold

$16.82M

TDS

$16.82M

593,595 TDS shares

What if they kept their stock?

If David A. Wittwer didn't sell their stock, today they would have:
Extra TDS593,595 shares worth $11.05M.
This is -34.33% and $5.78M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of David A. Wittwer.

TDS

567 shares

TDS

Mar 1, 2018

Received

TDS

$7.87M

TDS at $27.53/share

Feb 27, 2018

Sale

TDS

$642.18K

TDS at $25.38/share

Nov 7, 2016

Sale

TDS

$3.36M

TDS at $30.62/share

Aug 8, 2016

Sale

TDS

$1.58M

TDS at $29.90/share

Mar 31, 2016

Sale

TDS

$3.02M

TDS at $30.16/share

May 18, 2015

Sale

TDS

$248.30K

TDS at $24.83/share

Dec 22, 2014

Sale

TDS

$294.67K

TDS at $29.47/share

Sep 24, 2013

Sale

Compensation History

See how much did David A. Wittwer make over time.

David A. Wittwer’s compensation as CEO of TDS was structured to reflect both company and individual performance. In 2016, he earned approximately $1.27 million in total compensation, which included a salary of $631,000 and a bonus of $586,100, underscoring his effectiveness in achieving the company's performance targets. His bonuses were notably high, like in 2010, when he received nearly $300,000, reflecting consistently strong company performance. Interestingly, in 2017, his total cash compensation dropped significantly to $1,144,500 as he retired, showing that TDS's structure ties directly the compensation to performance metrics. Wittwer's years of focused results-driven management contributed to his considerable earnings during his leadership, showcasing a direct link between leadership effectiveness and compensation.

Year

2017

Total Compensation

$1.14M

Salary

$654.00K

Board Justification

TDS aims to align compensation with performance, focusing on long-term success and competitive market practices.

Bonus

$490.50K

Board Justification

The bonus for Mr. Wittwer was based on TDS Telecom's overall company performance for 2017, which was 99.9% of target, and was paid at target due to his retirement on December 29, 2017.

Other

$0.00

Board Justification

No other compensation was reported for Mr. Wittwer in 2017.

Restricted Stock

$0.00(0 N/A)

Board Justification

Mr. Wittwer did not have any vested stock in 2017 as all of his unvested options and stock awards expired at the time of his retirement.

Performance Metrics

The performance metrics for Mr. Wittwer's bonus were based on TDS Telecom's performance, which was assessed at 99.9% of target.

Other Telephone and Data Systems CEOs

Here are other CEOs of Telephone and Data Systems

James Barr III

Ex-CEO of Telephone and Data Systems

January 2006 - December 2006

Walter C. D. Carlson

CEO of Telephone and Data Systems

February 2025 - Present