Roberts' latest contract puts him in the top 10 of CEO salaries ever, while the TWC C-suite guys get fitted for golden parachutes.
Brian Roberts has earned another year as Comcast's chief executive officer. Although there was never any doubt about the matter, Comcast has officially filed a one-year extension to Roberts' CEO contract. The extension has proven to be an annual affair, with the cable giant adding a new term to Roberts' employment agreement each year as summer rolls around. The current agreement extends until June 30, 2015.
Roberts raked in $31.4 million in 2013, making him the tenth highest-paid CEO on record according to The Associated Press and research firm Equilar. His contract renewal this year comes in the midst of Comcast Corp. (Nasdaq: CMCSA, CMCSK)'s efforts to acquire fellow operator Time Warner Cable Inc. (NYSE: TWC). That move, if approved, would add to Roberts' record of acquisition success that includes the 2011 purchase of NBC Universal .
The Time Warner deal also adds an interesting corollary to the executive compensation conversation. Current Time Warner Cable Chairman and CEO Rob Marcus could be entitled to nearly $80 million if the acquisition by Comcast is completed. That "golden parachute" represents the highest payout proposed for a TWC executive, but not the only one. CFO Arthur Minson, CTO Mike LaJoie, and business services chief Phil Meeks stand to earn $27 million, $16.3 million, and $11.7 million respectively if the deal goes through. (See TWC Execs' Prize? A Cool $135M.)
It's good to be in the cable executive suite.
— Mari Silbey, special to Light Reading
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