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:

  • Doom: Nice to see Rocky Miller openly whoring himself out to the telecoms against the people he's purporting to represent....
  • Oscar@SA: Come to San Antonio. I will help bury the cable in my area if needed, then I can go tell TWC to go you know where.. lol...
  • ssssssssssss: who want to make money online >>> http://adf.ly/wTP2i <<< after 3 mouth can you make almost 5 usd per day but after 1 year can youy...
  • John: Gah, they are putting up Google Fiber in NC and Georgia, but nothing in SC? Not even Charleston or Columbia or Myrtle Beach?...
  • BobInIllinois: So far, NO Google FIber in Big 10 country!!.....
  • Javier: Im having bad internet and phone signal with brighthouse for many years, I get disconnected from internet and my son xbox game is the same, technician...
  • Brian: I am an avid gamer who feels this pain as my speed drops to half (or less) during peak hours. Imagine my pain as only 10 miles away my friends have su...
  • Jason: Great article! I had U200, 18mps internet with 3 receivers, HD with no premium channels. I was paying $163/month and received a mailer from Comcast...
  • Limboaz: Figuring out how to stop the blatant corruption in Washington is one of the biggest challenges facing the American public. Frankly, crony capitalism s...
  • jdhdbsb: Post this on reddit in as many subreddits as you can, post on Facebook, Twitter, and whatever else you can. Will get more attention this way....
  • Howie: I think Verizon will eventually get out of the landline business including dropping Fios and will become a wireless only company. It's just a matter ...
  • Joe V: I ask all of you to sign this petition regarding broadband in the United States. Most people are not aware that AT&T and Verizon want to eliminate...

Your Account: