Cable Operators

TWC’s Britt Takes a Haircut

4/09/2012 12:01 AM Eastern

NEW YORK — Time Warner Cable
chairman and CEO Glenn Britt took
a 6% pay
cut in 2011,
reeling in
$16.4 million
in total compensation

about $1 million
less than
he received
in 2010.

According
to a proxy
statement
filed with the
Securities
and Exchange Commission last
Tuesday (April 3), Britt received a
base salary of $1.25 million, $3.2
million in stock awards and $4.2
million in option awards, all similar
to payouts he received in 2010.
The big difference was in nonequity
incentive-plan compensation,
where Britt took a $1.1 million
haircut, receiving $7.2 million in
awards compared to the $8.3 million
he received in 2010.

Chief operating officer Rob
Marcus received $8.4 million in
total compensation in 2011, a 40%
increase from the $6 million he
received the year before. Marcus,
who was named COO in December
2010, received a $1 million base
salary, $1.9 million in stock awards,
$2.5 million in option awards and
$2.9 million in non-equity incentive
plan compensation.

Other executives received less
dramatic pay increases for the year,
including executive vice president
and chief technology officer Mike
LaJoie ($2.6 million, 12% up from
2010); EVP and general counsel
and secretary Marc Lawrence-
Apfelbaum ($2.8 million, 10% up
from 2010) and EVP and president
of Time Warner Cable Ventures Carl
Rossetti ($2.2 million, 2.5% up
from 2010).

Chief financial officer Irene Esteves,
who was hired in May 2011,
received $5.9 million in total compensation,
including a $366,667
base salary, an $820,000 bonus
and $3.6 million in stock awards.

September