Comcast has agreed with chairman and CEO Brian Roberts to extend his employment contract by another year.
Short-term extensions are atypical for executives in corporate America. But Roberts is the son of Comcast founder Ralph Roberts; he holds a sizable voting stake in Comcast; Comcast has been successful under his guidance; and he’s been signing 1-year extensions since 2005; so there is no reason to see this latest 1-year extension as any signal of leadership succession at the company.
With the latest extension, Roberts will continue to run the largest U.S. cable operator at least through June 30, 2015. No other details of the contract were changed.
Roberts is known to be one of the highest earning executives in the world. His compensation in 2013 of $31.4 million was up 7.7 percent from 2012. Steven Burke, CEO of NBCUniversal, made $31.1 million in 2013.
Separately, Vanity Fair just put Roberts on a list of best-dressed billionaires, joining David Geffen, Henry Kravis, and Ann Cox Chambers, and several others.