Home » Consumer News »TWC (see Charter) » Currently Reading:

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

Phillip Dampier August 3, 2011 Consumer News, TWC (see Charter) 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:

  • Friz: well, at least in my area speeds are relatively staying in line with what I would expect over the years at midco the cost jumped from 30 a month for ...
  • Ralph: Frontier seems to be only interested in acquiring other phone companies' properties for the monthly income from subscribers of the phone and internet ...
  • Lee: They will not be the only company that will have problems paying for debt as rates rise and they have to refinance debt....
  • Daniel: My experience with Verizon was CONSISTENTLY HORRIFIC. The sheer incompetence broke my brain. They would screw up everything they possibly could, and s...
  • Josh: Good grief. If they still have money, they HAVE to spend...I mean it's probably too late, but...what on Earth is wrong with these executives? I mean...
  • Paul Houle: The scary thing is that Frontier has a huge cash flow. There are still enough customers that use Frontier because they don't have a choice. "Cable" ...
  • Robert: Cox sucks...
  • Dan: The high dividends aren't a problem anymore, but there's probably not enough money to do more than pay off the interest. If they were smart, they'd st...
  • BobInIllinois: Reminder---July 1 2010, Frontier took over Verizon properties in 13 states, including my DSL account in Illinois. Took them 3 months to send me a bi...
  • LG: Same as Christopher's post above. Great work. The longer this goes on, the more I believe regulation and laws alone will not be enough. I'm thinkin...
  • Paul Sheehan Jr.: Why doesn't WGBH move to ch. 44 and WGBX go off air and what is the future for wbts-lp in boston...
  • Josh: What the frak are they doing? For the past couple of years I've been assuming the top executives are just trying to get payouts, then jump from the c...

Your Account: