Home » Consumer News »Time Warner Cable/Spectrum » Currently Reading:

Time Warner CEO Wins Contract Extension – $17 Million Compensation Package

Phillip Dampier August 3, 2011 Consumer News, Time Warner Cable/Spectrum 4 Comments

Glenn Britt

Time Warner Cable has notified the Securities and Exchange Commission that the cable company has extended the contract of current CEO Glenn Britt through at least the end of 2013, an extension of one year.

As part of the contract deal, the cable company added provisions for “long-term incentive compensation,” a combination of salary, bonuses, and other financial incentives designed to keep a CEO from looking for greener pastures elsewhere.  Britt’s package is anticipated to be worth at least $17 million over the period 2012-2013, which includes a base salary of at least $1.25 million, and much of the rest coming from bonuses.

Britt is likely being rewarded for the company’s strong financial results and stock price, which has been high recently.  But the cable company continues to lose cable-TV video customers, and is finding increasing resistance to rate increases from cash-strapped consumers being priced out of the company’s packages.

Currently there are 4 comments on this Article:

  1. John says:

    And these clowns wonder why I dropped their service. It’s really hard to justify all these ridiculous rates they’re charging these days. They want a box rental fee plus a DVR service fee which is nothing but a quick cash grab. Believe me TW will not give you a box with a HD in it capable of recording and disable it until you pay for DVR service. Plain and simple unless you agree to their price gouging you will only get a regular box. Not to mention their lovely $99 triple play bundle which ends up being more like a $140 triple play bundle after all of their hidden fees are added in.

  2. jr says:

    “Bandwidth hogs are using up all our money!”-TWC

  3. jordan says:

    Slime Warner CEO makes more in one year than my whole neighborhood does in a lifetime of slavery to the machine.
    And the day you try to do your metered billing again willl be the day I dump your service even if it means to go to a slower service.

  4. shawn808 says:

    Here come the CAPS fo’ SHO’…..

    Gotta pay the FAT CAT

Search This Site:

Contributions:

Recent Comments:

  • Elbert Davis: Armstrong Cable pulls a similar scam,calling their router rental fee "Zoomshare." At least Charter allows you to use your own modem. Armstrong only ...
  • Newer Employee: Frontier is a joke but I'm getting $20 an hour to sit on Reddit while turning off people's internet. The training is almost non-existent and we aren'...
  • Upset employee: Wow it hurts to see that you blame the employees for the downfall we are the ones sitting there and having to explain and fix the customers service. D...
  • Josh: I'm on "Performance Plus" in Illinois...25Mb/s. Will be interesting to see if it goes up......
  • He's kidding right?: ... This company has the absolute worst systems for putting through sales and correcting billing that you could imagine.... the technicians are woeful...
  • John: As a bit of an aside Charter is charging a new "Secure Connection Fee" of one dollar, this is explained in footnotes of bill as Charters charge for s...
  • LG: Outrageous. This is what I've been seething over for years. I don't blame the companies themselves, just the govt. officials who were completely cor...
  • K Grant: I think it's ridiculous that these two parties can't work things out! I agree, it's time to switch providers! Direct was able to in 9 days! We're ...
  • Former Employee: I worked for Frontier at one time and was an employee of one of the companies Frontier purchased. When I worked as an employee of the original telco,...
  • Phillip Dampier: I thought Maggie was bad but compared to what I am seeing under Mr. McCarthy, things are getting worse. Frontier is like the Sears of phone companies....
  • Amy: What a bunch of crap frontier got rid of a 1000 "low level employees" then tripled work load of those Left and took away a small bonus of about5-8k...
  • Josh: Ooooh, Verizon owns AOL? Yeah, that makes total sense to just use that then. Makes sense anyway probably, but especially if they already own a bette...

Your Account: