Comcast CEO paid $34 million in 2009


Comcast Corp's chief operating officer Stephen Burke was the highest paid executive at the No. 1 U.S. cable company last year, topping even his boss Brian Roberts.

Burke was paid a total compensation package of $34 million in 2009, according to regulatory filings, a big jump from the $22.6 million he received in 2008. Last year he was paid a $3 million bonus and his stock awards more than doubled to $10 million.

His pay overtook CEO Roberts' $27.2 million package in 2009, which rose from $26.2 million. Roberts has previously been criticized by some corporate governance watchers for being paid high compensation.


rke, a former Disney executive, took on extra responsibilities last year as the manager to oversee the integration of General Electric Co's (GE.N) NBC Universal into Comcast once the $35 billion joint venture receives regulatory approval. NBC Universal Chief Executive Jeff Zucker will report to Burke.

Last December Comcast renewed Burke's contract for another five years to 2014. The new agreement included a $3 million cash bonus, a restricted stock unit grant of about $6 million and a $2 million contribution to his deferred compensation plan, all resulting from his increased responsibilities with the NBCU joint venture. This is included in the $34 million total for 2009.

Burke was appointed to the board of Warren Buffett's Berkshire Hathaway last year and is also a board member of JPMorgan Chase.

The next highest paid executive at Comcast in 2009 was Chief Financial Officer Michael Angelakis who received a $21.6 million package -- another big jump from $14.5 million in 2008.

Executive vice president David Cohen, who is overseeing Comcast's regulatory challenges in Washington D.C. with various regulators, received $9.8 million in 2009 up from $9 million.

The filings showed the top four executives requested that they not receive an increase in their annual base salary through Feb. 2011.

For each of those executives their base salary ranged between 7 percent to 13 percent of their total compensation in 2009.

Arthur Block, general counsel, received $6.2 million up from $3.3 million.

article originally published at Reuters.

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