Discovery COO Peter Liguori Gets Added OWN Incentive
He is eligible for a performance-based bonus with a $500,000 target.
Peter Liguori, COO of Discovery Communications and newly-appointed interim CEO of Oprah Winfrey’s OWN network, and the cable networks group have amended his employment contract to update his compensation details given his added responsibilities.
Under his updated agreement, Liguori, who is overseeing OWN after Christina Norman left, is eligible for a bonus with a target value of $500,000, but not less than $250,000, for 2011 depending on OWN’s performance. The bonus is payable next year.
Discovery will also give Liguori $60,000 to "defray the cost of his apartment in Washington, D.C." -- given Discovery's headquarters is in Maryland -- and pay $2,500 for him to pack, store and transport his belongings to Los Angeles — where OWN is based.
OWN, which launched Jan. 1, is a joint venture of Winfrey and Discovery.