Longer lasting?

November 9, 2004

Cablevision (CVC), which regular readers will know has been something of a regular on footnoted.org, hired a new CFO recently to replace outgoing CFO Bill Bell. Michael Huseby will be paid $750,000 a year — considerably more than the $400K he was making in the same role at Charter Communications (CHTR), a job he just took in January. In addition to the salary, Huseby is being given a $225,000 signing bonus — money the company says will replace the bonus Huseby would have received at Charter. It’s not entirely clear from Charter’s filings what happens to the 350,000 options and 50,000 shares of restricted stock it granted to Huseby when it hired him. Nor is it entirely clear why he left Charter, since the St. Louis-based company was allowing him to work from Denver, which seems pretty unusual for such a key position.

In comparision, Cablevision is requiring Huseby to relocate to Long Island, though they’re paying him $150,000 to cover the move. Meanwhile, outgoing CFO Bell received $6.78 million in what the company describes as “early severance”. In addition, Bell still apparently qualifies for a three-year consulting contract that will pay him $500K a year.

Leave a Reply

You must be logged in to post a comment.