NBCUniversal CEO Steve Burke's 2011 Compensation Declines 32 Percent to $23.7 Million
UPDATED: Comcast chairman and CEO Brian Roberts also got a smaller compensation package last year.
Comcast said Friday that NBCUniversal president and CEO Steve Burke received compensation worth $23.7 million in 2011, his first year running the entertainment company. That's a decrease of 32 percent.
The total pay package, details of which were disclosed in a regulatory filing, compares with the $34.7 million he made in 2010 when he ran Comcast's cable systems. Comcast acquired a 51 percent stake in NBCUniversal in late January 2011.
Burke's salary was unchanged at slightly more than $2.4 million, but he didn't get a regular bonus in 2011 after getting $3 million in 2010, and his nonequity incentive bonus dropped slightly, while his stock awards came in more than 50 percent lower at $4.4 million instead of $10.1 million.
Comcast chairman and CEO Brian Roberts saw the value of his compensation package fall 13 percent from $31.1 million to $26.9 million. He got a much lower nonequity incentive bonus but higher stock awards.
Among "other compensation," the personal use of company-provided aircraft by Roberts amounted to $237,176 last year and to $399,419 for Burke. "The amounts reflected for each named executive officer in respect of personal use of Company-provided aircraft indicate the extent to which the incremental cost of such use exceeds the amount paid to us by the named executive officer," the company filing said.
Comcast emphasized that its compensation is focused on performance factors, particularly financial goals and the stock price. "This combination of internally measured (financial performance) and externally measured (stock price) performance provides both short-term and long-term performance components in the compensation structure," it said. Comcast's stock gained somewhat last year, and NBCUniversal's operating cash flow rose slightly.
This executive pay disclosure season, CBS Corp. president and CEO Leslie Moonves is the highest-paid Hollywood CEO, and one of the highest-paid in the country, with nearly $70 million.
Satellite TV giant DirecTV recently said its CEO Mike White's pay package reached $5.9 million. In January, Viacom said that CEO Philippe Dauman's compensation amounted to $43.1 million in the latest fiscal year; he boasted the largest CEO compensation in the U.S. in 2010 with $84.5 million. White and Dauman both saw compensation declines in 2011 due to special year-ago awards.