Time Warner Inc. Announces Five-Year Contract Extension With Chairman And CEO Jeff Bewkes
Time Warner Inc. today announced a new employment agreement with Chairman and Chief Executive Officer Jeff Bewkes, extending his term another five years through 2017.
“Speaking on behalf of the Board of Directors, we are very pleased that Jeff has signed on to lead Time Warner for another five years,” said Stephen F. Bollenbach, Lead Independent Director of the Time Warner Board of Directors. “Jeff is a proven visionary when it comes to navigating the digital landscape. Since becoming CEO in 2008 he has led the transformation of the Company into a content-focused powerhouse while at the same time significantly increasing shareholder value.”
“It is a pleasure to work with such a dedicated Board of Directors and I appreciate their confidence in me and in the strategy we have formulated to drive the company’s growth,” said Mr. Bewkes. “With Time Warner’s exceptional management team we have created some of the most compelling content in the world, we have led the way in developing new business models that capitalize on emerging consumer trends, we’ve expanded our reach internationally and we’ve improved the operating and the capital efficiency of the Company. I’m even more confident about what we’ll achieve over the next five years.”
Under the terms of the new agreement, Mr. Bewkes’ base salary and bonus target will remain unchanged. Additionally, the agreement provides for annual long-term incentive awards that are tied directly, and solely, to future financial and shareholder returns.
Commenting on Mr. Bewkes’ pay package Mr. Bollenbach said, “Jeff’s compensation reflects his and the Company’s strong performance since 2008, especially in delivering strong financial results in a competitive market and in the digital leadership of our businesses. The structure of his pay also takes into consideration the views of our major stockholders and expressly ties his pay to the long-term financial success of the company.”Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
