Comcast's Cavanagh Is Highest-Paid U.S. CFO With $41 Million

[Purveyor]

April 8, 2016 — 1:43 PM EDT Updated on April 8, 2016 — 3:26 PM EDT

Comcast Corp. paid Michael J Cavanagh $40.6 million in his first year as the largest U.S. cable company’s chief financial officer.

He’s the best-paid CFO at a publicly traded U.S. company, data compiled by Bloomberg show. Cavanagh’s compensation included a $1.8 million salary, $16.5 million in stock awards, $4 million in option awards, a $6 million cash bonus and $11.8 million in deferred compensation, Comcast reported in the summary compensation table in a Friday proxy statement.

Cavanagh, 50, was hired by Comcast in May after spending less than a year at private equity firm Carlyle Group LP, where he was recruited to be co-president. He previously was a close deputy to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon for more than two decades.

That makes him the second of Dimon’s former lieutenants to top him in compensation this year. First Data Corp. paid Chairman and CEO Frank Bisignano $51.6 million for 2015, almost twice Dimon’s $27 million. Bisignano, who was JPMorgan’s co-chief operating officer, left the firm in 2013 to run KKR & Co.-backed First Data.

more...

http://www.bloomberg.com/news/articles/2016-04-08/comcast-s-cavanagh-becomes-best-paid-u-s-cfo-with-40-6-million

[lpbk2713]

1. For the sake of simple math ...

It would take more than two thousand of his employees earning
$20,000 per year to equal what he was paid in one year.

[MMTampa]

2. Comcast is consistently. .

Comcast is consistently rated as one of the worst service providers in the nation - year after year. I guess that's the reason he makes the big bucks.

[LAGC]

3. Yep. They cut corners on paying customer service reps a decent wage and lax training...

Then turn around and fleece consumers for every penny they can, since they are often the only cable/broadband player in town in many places (de facto monopoly).

What a sweet gig for company execs and stockholders...