Michael J. Cavanagh made $40.6 million in his first year at Comcast, making him the highest paid CFO in the country. The CEO of Comcast, Brian Roberts, made a mere $36.2 million, hardly enough to buy a halfway decent sized apartment in NYC.
It was Cavanagh’s first year at the slimeball cable giant, after coming from JP Morgan–where he toiled away with Jamie Dimon for over two decades.
Cavanagh’s compensation included a $1.8 million salary, $16.5 million in stock awards, $4 million in option awards, a $6 million cash bonus and $11.8 million in deferred compensation, Comcast reported in the summary compensation table in a Friday proxy statement.
Why do these fine gentlemen get paid such generous portions of U.S. dollars?
They create shareholder value, of course.
Over the past year, Comcast’s share price has appreciated by 5.7%
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Thanks for giving me 40.6 million reasons to feel less guilty about stealing cable.
+ 1
“Why do these fine gentlemen get paid such generous portions of U.S. dollars?”
Superior product, pricing, and customer service?
No? Maybe next year.