CLOSEClose Law.com Menu
 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Francis “Skip” Frantz is a self-proclaimed modest man from a modest business. Alltel Corp., a telecommunications provider based in Little Rock, Ark., is “not the largest company out there, our headquarters are not in a major city, and we [serve] a predominantly rural or second- and third-tier market,” says the general counsel and executive vice president. But nothing is modest about the in-house lawyer’s remuneration. Frantz’s 2001 cash compensation of $810,000 lands him in the middle of our list, at No. 58. It seems like a natural spot: His employer resides in the exact middle of the latest Fortune 500 rankings, with annual revenues of $7.6 billion. But Alltel’s modulated voice is rising above the din of rivals recently humbled by high debt and overbuilt networks. The fiscally conservative Alltel — which faces less competition in the rural markets that are its mainstay — more than doubled its free cash flow last year, and even increased its stock dividend for the 41st year in a row. Alltel hasn’t been immune to the sector’s woes. Even so, the bear market didn’t stop Frantz from cashing in 50,000 of his Alltel options, for a total of $1.45 million. He was the only one of Alltel’s senior officers to part with company holdings during the volatile market fluctuations of 2001. Yet Frantz shrugs off the move as merely a “methodical” exercise of his options. The GC, who joined the company in 1990, is the longest-tenured senior officer at Alltel. During a corporate reorganization in 2001, Frantz — who was already corporate secretary and head of business development and M&A — was rewarded with additional responsibilities for administration, communications, security and wireline strategy and wholesale services. Even while juggling all those roles, the 49-year-old still negotiates deals like Alltel’s pending acquisitions of CenturyTel Inc.’s wireless business, for $1.65 billion, and Verizon Communications’s domestic telephone operations in Kentucky, for $1.9 billion. But on his own, the practicing Roman Catholic and avid golfer doesn’t confess to any major splurges. “I like to be low-profile and live simply,” says Frantz. “It sounds kind of boring, but that’s OK. I don’t apologize for it.” Neither does Alltel.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 3 articles* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.