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:

  • Phillip Dampier: We have plenty of DoT fiber around here that is black on the pole but is orange running down the pole or at the point it descends underground or into ...
  • Aaron: Outdoor fiber cable doesn't have bright orange insulation. Every buried or aerial fiber I've ever encountered was black, with a thick outer sheath, s...
  • James R Curry: I filed an FCC Open Internet complaint about the 600kbps video throttling back on June 19th. This morning, I received a call from Sprint's executiv...
  • Limboaz: I'd sooner have a root canal without freezing than watch most of the worthless content on Showtime. They put the weird in Hollyweird....
  • BobInIllinois: dancer....Verizon sez that their sold-to-Frontier FiOS fiber assets are spread throughout the US(true), while the wirelines have 2 disadvantages: 1)d...
  • dancer: Why Verizon wants to keep selling off more FiOS assets to Frontier and forces Frontier to buy Wireline Assets?...
  • Lee: A website is not effective at selling more services than you originally wanted. The helpful (sarcasm) service reps at Frontier always try to get you t...
  • Robert Raleigh: Hi, everybody. You all know a lot more about all this technical stuff than I do, so I hope you can help met. For years I've had a Clear (and befor...
  • David Casebier: I filed a complaint with the FCC and was contacted by Comcast via phone today. I was told that they were in the information gathering process. When I ...
  • dawsonfiberhood: While we've been focused on talking about your modem's effective throughput from the house to the ISP's Central Office, we also need to consider the b...
  • Bob B.: Our low end Comcast "Performance Starter" is rated 6/1 and we speed test regularly at 7.1/1.3, so looks about 20% overprovisioning. Can't complain, e...
  • CL: Exactly . ..they want cord cutters pay extra to make up for their loss of revenue for TV....

Your Account: