Time Warner CEO Jeff Bewkes' Pay Fell in 2009
Jeff Bewkes, chairman and CEO of Time Warner, which operates magazine publisher Time Inc., saw his pay decline around 9.5% from 2008 to 2009. Bewkes shouldn’t be sweating it too hard, though. He still took home around $19.6 million in salary and stock and option awards.
His salary held steady at $1.75 million, even though he could’ve opted for another quarter million when he became chairman of Time Warner in January of 2009. The declining value of his stock and options awards were responsible for the overall decline in his pay. His stock awards lost 42% of their value, and his options fell 65%. Together, his stock and options awards are now worth $5.3 million. His bonus rose to $12.1 million from $7.6 million a year ago.
In 2009, Washington Post CEO Donald Graham saw his pay drop by nearly half, while executives at The New York Times saw their pay rise from 2008 to 2009.
