Greg Maffei Reups With Liberty For Five More Years
December 30, 2014 at 8:02 AM (PT)
LIBERTY MEDIA CEO GREG MAFFEI has been given a five-year extension, reports DEADLINE.COM. His contract was set to expire at the end of this month. MAFFEI has been instrumental in the building of LIBERTY MEDIA investments in companies such as CHARTER COMMUNICATIONS, SIRIUSXM and LIVE NATION.
“His creativity and strategic vision have been transformational and have created tremendous shareholder value since he joined us in 2005,” commented JOHN MALONE.
Added MAFFEI: "LIBERTY’s businesses are very well-positioned for the digital mobile era, led by great management teams, with the resources to be opportunistic in the future.
MAFFEI's new contract includes an annual base salary of $960,750 that will rise 5% per year, with a target cash bonus for 250% of his base salary. On CHRISTMAS EVE, he received 3.3 million stock options with an exercise price of $34.04 per share, slightly lower than LIBERTY’s closing price that day.