Charter’s Rutledge sees astronomical compensation package return to Earth

Tom Rutledge
The rich compensation packages were largely comprised of stock awards relating to Charter’s purchase of Time Warner Cable and Bright House Networks. (Charter Communications)

Following a $98.5 million windfall in 2016 that was driven by deal points related to Charter Communications M&A, company Chairman and CEO Tom Rutledge saw his 2017 salary sliced to just ... $7.8 million. 

Charter President and COO John Bickman saw his 2017 salary drop from $47.4 million to $4.8 million, while CFO Christopher Winfrey ($2.1 million from $29.1 million) and senior executive VP David Ellen ($3.1 million from $22.1 million) also saw post merger reductions.

The rich compensation packages were largely comprised of stock awards relating to Charter’s purchase of Time Warner Cable and Bright House Networks, both deals closing in 2016.

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

RELATED: Charter strike ramps up as union takes swipe at Rutledge’s $98M salary

Rutledge, for example, received option awards valued at $80 million—which the company justified, based on the increase of its market capitalization following the mergers. 

The salary figures came from documents filed by Charter to the Securities and Exchange Commission this week. 

“In 2016, Charter successfully completed its transactions with Time Warner Cable and Bright House Networks, the result, a Charter roughly four times larger than the legacy company," Charter said in a statement provided to FierceCable a year ago.

Suggested Articles

Plex is partnering with Lionsgate to grow its library of ad-supported video on demand content prior to the planned rollout to consumers in late 2019.

Given the accelerating rate at which consumers are going online for entertainment, Roku said that streaming TV viewers could surpass the amount of pay TV…

Facebook is officially releasing a connected TV streaming device called Portal TV that includes a built-in camera for video calls and co-watching.