Home » Charter Spectrum »Consumer News » Currently Reading:

Former Cablevision COO Hits Pay Powerball as New CEO of Charter: $90+ Million Salary

Phillip Dampier January 5, 2012 Charter Spectrum, Consumer News No Comments

Payday for Rutledge

Cablevision’s former chief operating officer Tom Rutledge has hit executive pay Powerball, scoring a compensation package worth more than $90 million dollars as the incoming CEO of formerly-bankrupt Charter Communications.

Documents filed with the Securities and Exchange Commission reveal why Rutledge abruptly resigned from his position at Cablevision on Dec. 15.  Just four days later, Charter announced Rutledge would become its new CEO this February, replacing Mike Lovett who earlier announced his departure plans.

Rutledge will be extremely well compensated in his new position, scoring $8,000 a week in walk-around money until February when the executive suite opens up.  After that, his base salary will amount to $2 million annually, with yearly increases possible.  But the real money will come from Rutledge’s bonus and incentives package.  In addition to an annual bonus worth up to $3.5 million annually, Rutledge will also get more than one million shares of Charter stock, worth more than $70 million at present.  If Rutledge focuses on boosting that stock price, he could earn considerably more.

That’s a remarkable pay package for a cable company that declared bankruptcy just two years ago.  It’s also a lot more money for Rutledge, who collected just over $28 million at his old job at Cablevision.

In 2010, soon-to-be-former Charter CEO Mike Lovett earned just under $11 million in total compensation.

Search This Site:

Contributions:

Recent Comments:

  • psychic99: “I can barely use a toaster. I have no idea what internet service I subscribe to.” And this is why we have so many bad decisions involving tech in ...
  • Phillip Dampier: http://stopthecap.com/2016/10/26/att-know-last-summer-profited-selling/...
  • W Stuckey: Regarding Hearst holding hostage the ABC affiliate in the Pittsburgh market: Now that the FCC allows market modifications to rebroadcast out-of-market...
  • JayS: I searched Stop the Cap and could not find the article you mentioned, about At&T selling data to the police. Could you post the link?...
  • Lee: That would only get rid of them selling the data to advertisers. There is an article on stopthecap about AT&T's program that sells data to police....
  • JayS: You have a very good point, that you can Opt-Out of Google and Facebook, but not your ISP. This problem could be solved by requiring ISP's to have a ...
  • Lori: How to receive emails when your internet service goes down https://www.amazon.com/dp/B06XWWX7BG/ref=olp_product_details?_encoding=UTF8&colid=1PLRY...
  • Lee: I do not pay Google and Facebook every month for their services. I certainly pay Frontier every month. So now companies like Comcast will compete with...
  • LG: They were playing. You can see the way it ended with both of them turning it off and looking in the same direction at the same time. Either that or ...
  • Ex GTE/Verizon/Frontier Employee: Frontier LOST 20 years of my training records. So I spent hundreds of hours on line (during Frontier's work days, out in the field somewhere) retaking...
  • MrFool: Well TV anywhere in Spectrum/TWC land is essentially TV nowhere. The number of vendors that will let you watch outside your home network are few and ...
  • Jill: Comcast, with all their faults and crappy software applications is giving me 161 Mbps down and 12 up for $50/month with the WiFi router/modem. Glad I ...

Your Account: