DirecTV's Mike White to Continue as Chairman, President, CEO
The satellite TV giant says his current contract would have expired on January 1.
DirecTV said Friday that Mike White has agreed to continue leading the company in his roles as chairman, president and CEO.
His current employment agreement with the satellite TV giant would have expired on Jan. 1. The company no longer has long-term contracts for its executives, so his employment will be ongoing. Terms of his extension weren't disclosed.
"During his three-year tenure as CEO, White has led DirecTV to record performance levels and has kept the company positioned as the top video entertainment choice in the U.S. and across Latin America," the company said. "Over the same period, DirecTV's stock price has increased 54 percent, compared to the 27 percent growth in the S&P 500 Index over the same period."
“The board is pleased to retain Mike as CEO,” said Neil Austrian, lead independent director of the DirecTV board. “Mike has set a strategic direction to continue to increase our value to our customers, strengthen our relationships with the communities that we serve and has led the steady growth of the company during tough economic times.”
Said White: “I’m grateful for the opportunity to continue to lead DirecTV and its creative, talented and dedicated employees at this exciting and challenging time. I remain fully committed to continue increasing value for our shareholders by providing the best video experience for all of our customers.”