Greg Maffei has been Chairman John Malone’s right hand man since 2005, and is positioned to stay there for another five years. Liberty Media just extended the CEO’s contract, due to expire this month. Maffei has been at the forefront of the company’s wide-ranging investments and efforts to build companies including Charter Communications, Sirius XM, and Live Nation.
“His creativity and strategic vision have been transformational and have created tremendous shareholder value since he joined us in 2005,” Malone says. Maffei adds that 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.”
The compensation package for the former Microsoft CFO came to $3.6 million in the fiscal year that ended in 2013. But he doesn’t live on paycheck money: His take in 2012 came to $57.2 million with $53.9 million worth of option awards.
His 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 also received 3.3 million stock options with an exercise price of $34.04 per share, slightly lower than Liberty’s closing price that day.