Wow! those media execs who are actually doing good jobs must be pissed right now. Because some of their counterparts still got big pay even though their companies were reporting below the belt results. Then again it's all one big club. Its no secret that when a media exec gets canned, they leave with more cash than most of us will ever see in our lifetime. Some of these companies are even laying off tons of workers but the CEOs themselves aren't taking any pay cuts to help offset any losses. Should media boards have a tighter grip on what their CEOs take home? Jeff Zucker is one media exec, clearly making buckets of the green stuff.Across all main-market listed companies, in the past three years, media businesses offer their chief executives and finance directors about 15 per cent more than the average. However, Paul Wolstenholme, director of Halliwell, said that in the same period, media companies had offered disappointing results for their investors.
"The media sector is not performing well, but this research shows that all the executives are taking bucketloads of cash out of the businesses."
Media executives' pay outstrips performance [FT]
