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:

  • Comcastic: Why not swap the california and florida Bright House systems with Comcast for other systems near Charter? Charter is already giving up their systems o...
  • Paul Houle: I've rarely seen people happy with a WISP. A WISP promised to serve my area by putting up 13 towers, but then the cost went out of control when t...
  • Will Williams: Noooooooooooooooooooooooooooooooooooooooo...
  • Rob: Yes, they are referring to giga power....
  • Steve: Albany, NY area. Triple play, 15/1 Mbps internet, no premium channels, one DVR box and two regular boxes. Used the Twitter method for the 3rd year i...
  • Stacy: I am cancelling my service with Suddenlink due to the data cap. I am willing to accept the sacrifice of lower internet speeds to ensure none of my har...
  • karen: I agree with everyone here: it shouldn't be legal. And I guess when viewership numbers drop significantly, or when advertising dollars drop, cable co...
  • GBlljhgfvbffg5365: This. The Full Price needs to be disclosed before you even sign up. Quite often I've found is that their is a $50+ Difference in the price they advert...
  • Allen P.: Terrible Internet speeds and the worst customer service. Unfortunately they are the only provider for my area. I would get rid of them if I could....
  • Jason: I am curious if the 50Mbps speed as the fastest they ever achieved if that was wired or wireless? What environment are they in? An apartment or a sing...
  • Angel: it should read "I’m NOW paying 4$ less than the original promo I bought last year". and you actually have to get to the cancellation department, the p...
  • fit body: Excellent blog you've got here.. It's hard to find excellent writing like yours nowadays. I honestly appreciate people like you! Take care!! My ...

Your Account: