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

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

Phillip Dampier August 3, 2011 Consumer News, Time Warner Cable 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:

  • Scott in Austin: Doubtful. I pay $40 a month for 50 Mbps up with Time Warner Cable and have never had a problem. Will I get the same with Charter?...
  • RJW: @Judi Z just to let you know you can find a lot of the 50s like Whirlybirds, I married Joan, Leave it to Beaver etc on YouTube. Just for the heck of ...
  • Phillip Dampier: That is not necessarily true. When companies change hands, it is not uncommon for them to rely on the new owner's existing backbone infrastructure. Th...
  • robmak3: Sounds like TW is worse than that, at least!...
  • dawsonfiberhood: Well Nick, different companies have different policies, and a company's market penetration effects the amount of control it has over the industry, and...
  • oobovigif: The more I hear about this guy the more I feel he belongs as a Comcast CEO....
  • Mike: I don't have cable TV so that side of the merger will not effect me. However the idea of no data caps and a possible upgrade from my 20/2 service to 6...
  • Nick: This isn't how any of this works... Just changing ownership of a company does not at all change the network infrastructure... If people are gett...
  • Phillip Dampier: Are you quoting promotional prices that only new customers can get or the regular price most customers will pay?...
  • Ian L: Devil's advocate here: 100/25 for $60 per month is better than I can get now on TWC. And if I wanted to pay $20 more than I am now (which I've done be...
  • BobInIllinois: Drahi is simply going after the largest cableco systems left out there, to consolidate. #5 Cablevision is East Coast NYC area, #10 Mediacom is heav...
  • Justin: So with the notification of clear going by the wayside I've already switched my ISP and now officially canceled my clear service. All of that said, is...

Your Account: