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Charter’s May Gets $750K Bonus

By Mike Farrell -- Multichannel News, 1/6/2006 9:50:00 AM

Charter Communications Inc. said in a securities filing Friday that it paid former interim CEO Robert May a bonus of $750,000 Jan. 5 for his performance in 2005.

May stepped down as interim CEO after Charter hired former America Online Inc. Access Business president Neil Smit as its permanent CEO in August.

According to a filing with the Securities and Exchange Commission, May’s employment contract was terminated Dec. 31. In December, Charter said May would leave the company to assume the CEO role at San Jose, Calif.-based power company Calpine Corp.

According to the filing, May’s 2005 bonus is subject to an increase based on the bonuses other executives receive. According to his employment agreement, May was to receive a salary of $1.25 million in 2005.

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