Time Warner CEO's 2007 Pay: $19.45M24 Mar, 2008 By: Erik Gruenwedel
Time Warner Inc. CEO Jeff Bewkes may have a mandate to cuts costs to rejuvenate the media giant's languishing stock — objectives that have resulted in folding New Line Cinema and hints he'll sell portions or entire stakes in Time Warner Cable Inc. and AOL.
That didn't prevent the three-month-old chief executive from upping his compensation nearly 30% in 2007, including receiving a $7 million bonus, $11.2 million in stock options and a $1.25 million base salary, according to regulatory filings.
The former president and COO earned total compensation of $14.9 million in 2006.
Time Warner owns Warner Bros. Entertainment, including Warner Home Video.
Bewkes, who is slated to earn a minimum $10.25 million in 2008, could significantly increase his total compensation based on options on 950,000 shares and other goal-oriented incentives worth hundreds of thousands shares.
Previous CEO and current chairman Richard Parsons received total 2007 compensation worth more than $18.6 million.