Time Warner CEO's pay package drops
By Rachel Metz |
March 29, 2010, Monday
|
Print Edition
Print Edition
JEFFREY Bewkes, CEO of Time Warner Inc, received compensation valued at US$19.4 million in 2009, down more than 9 percent from the year before as his stock-based awards fell, according to an Associated Press analysis of a regulatory filing.
Bewkes, 57, received a salary of about US$1.8 million in 2009, the same as in 2008. He also received a performance-based bonus of US$12.1 million, up from US$7.6 million the previous year.
He received stock and options valued at US$5.4 million on the days they were granted in 2009, down from US$12 million in similar awards received the year before.
His other compensation, which included the personal use of a car, driver and company plane, a company savings plan match and insurance premiums, rose to US$141,714 from US$103,517 a year earlier.
The Associated Press formula is designed to isolate the value the company's board placed on the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.
The calculations don't include changes in the present value of pension benefits.
Bewkes has served as CEO in January 2008. He oversaw the company's split from Time Warner Cable Inc in March 2009 and its spinoff of Internet company AOL Inc in December.
Bewkes, 57, received a salary of about US$1.8 million in 2009, the same as in 2008. He also received a performance-based bonus of US$12.1 million, up from US$7.6 million the previous year.
He received stock and options valued at US$5.4 million on the days they were granted in 2009, down from US$12 million in similar awards received the year before.
His other compensation, which included the personal use of a car, driver and company plane, a company savings plan match and insurance premiums, rose to US$141,714 from US$103,517 a year earlier.
The Associated Press formula is designed to isolate the value the company's board placed on the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.
The calculations don't include changes in the present value of pension benefits.
Bewkes has served as CEO in January 2008. He oversaw the company's split from Time Warner Cable Inc in March 2009 and its spinoff of Internet company AOL Inc in December.
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