Time Warner Cable CEO to get $79.5 million from Comcast buyout
Robert Marcus just became Time Warner Cable's CEO on Jan. 1, but if Comcast is successful in buying TWC for $45.2 billion, he'll get a severance package worth as much as $79.5 million.
"Should the deal close, Mr. Marcus will receive $56.5 million in stock, $20.5 million in cash and a $2.5 million bonus if Time Warner Cable meets its performance targets by the time of the deal’s completion," the New York Times reported, pointing to a regulatory filing disclosed today.
Marcus joined TWC in 2005 as a senior executive VP, and he became chief financial officer in 2008 and chief operating officer in December 2010. He's been chairman and CEO since Jan. 1 of this year.
Initially, Marcus told shareholders it would be better to "continue as a standalone company than merge with a competitor," the Times wrote. Time Warner rebuffed an acquisition attempt by Charter, but "in a rapid series of developments in January and February, Mr. Marcus negotiated to sell Time Warner Cable to Comcast, the largest cable operator in the country." Marcus was paid $10.1 million in 2012.
"Other Time Warner Cable executives are also in line for big payday," the Times report said. "Arthur T. Minson Jr., the chief financial officer, will receive severance pay totaling $27 million. Michael LaJoie, the chief technology officer, will receive $16.3 million. And Philip G. Meeks, who replaced Mr. Marcus as chief operating officer, will take home $11.7 million."
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http://arstechnica.com/business/2014/03/time-warner-cable-ceo-to-get-79-5-million-from-comcast-buyout/
nice 'work' if you can get it 
= new reply since forum marked as read
How many part timers and blue collars will he have to fire to meet his objective?
