A huge slug of option awards propelled the Starz CEO to a compensation package that’s close to what Jeff Bewkes made at Time Warner, a much bigger company. Chris Albrecht benefited from a new contract that coincided with the premium cable channel company’s spinoff from Liberty Media in January 2013, according to the company proxy just filed at the SEC. His package: $1.3M salary, $27.9M option awards, $1.3M non equity incentives, and $16,134 in other compensation. Not much commentary in the proxy about Albrecht’s achievements, but Starz shares basically doubled in value in 2013 following the spin off. His compensation accounted for 71% of the pie for the company’s five top execs, up from 63% in 2012. Corporate governance watchdogs also would consider it way out of whack for the company. Albrecht’s pay was 9.9 times the median for his closest lieutenants, up from 6.7 times in 2012. Many governance specialists flash a warning sign about a CEO’s power when he or she makes more than three times the median for other execs.
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