MediaFile

Comcast CEO Roberts makes the Top 15 on pay

April 6, 2009

While we were at The Cable Show last week, Comcast filed a documents with securities regulators detailing its 2008 executive compensation. The filing showed that Chief Executive Brian Roberts received $23.7 million in 2008 up from $20.8 million in 2007 but below his 2006 payout of $26 million.

Roberts, as the AP points out, has long been criticized by shareholders for the size of his pay package. His increase comes after Comcast shares fell some 7.6 percent in the calendar year 2008, but this outperformed most of the major market indexes, which fell between 30 to 45 percent last year.

In February Roberts and other executives agreed to forgo a pay rise in 2009 and cut back on personal benefits, including a previous agreement which had guaranteed the payment of his base salary and cash bonus to his heirs for up to five years after his death — a so called ‘golden coffin’ package.

According to Comcast’s compensation committee, Roberts and other top executives are compensated in line with other executives in similar sized companies both in the entertainment/media sector and beyond.

As Comcast filed on April 3rd, it was not included in the New York Times/Equilar Special Report on executive pay which ran in Sunday’s paper. The Times report was based on data reflecting pay for 200 chief executives that had filed their annual proxies by March 27 and whose companies had revenue of at least $6.3 billion.

Based on the Times’ chart of top earners, Roberts would have come in as the 13th highest paid chief executive — just below the newly appointed Motorola co-CEO Greg Brown ($24.2 million) and above Lockheed Martin chief Robert Stevens ($22.9 million).

In the entertainment/media sector Roberts came in third behind Walt Disney’s Bob Iger ($51.1 million) and News Corp chief Rupert Murdoch ($30.1 million). Motorola’s other co-CEO Sanjay Jha was at the top of the overall list with $104.4, mainly made up of stock options used to lure him to join the company last year from Qualcomm.

(Photo of Roberts/Reuters)

Comments
2 comments so far | RSS Comments RSS

I have been getting completely unacceptable phone service from Comcast and NOBODY is doing anything about correcting this terrible condition! Phone service in the 21st cen. is something one cannot be without and Comcast is putting our health and safety at risk by not providing even adequate phone service. For this, Roberts deserves a paycut, not a pay raise!!!!!!!!

 

Almost $70 MILLION in 3 years! It’s no wonder why my cable bill keeps going up! When I first subscribed to cable, more than 30 years ago I’ll admit, it was $68 a month for EVERYTHING (except the Playboy Channel) and there were NO COMMERCIALS! After the company changed hands from TCI,to AT&T, and finally to Comcast…my bill went up to over $120 a month. Being retired and on a fixed income, I have been eliminating expences, and Comcast is one place I have been cutting back. I think that Comcast is overpriced no matter what package you opt for and it’s sad that old people , who have little to ebtertain rhem, must pay these high prices, while the company’s CEO get more money than he’ll ever be able to spend! There should be a Senior Citizen Package, with a discount…or at least eliminate all the annoying commercials!

Posted by PassTheBlues | Report as abusive
 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/