Comcast: What's Wrong with this Picture?
Comcast (CMCSA) [$16.84 -2.88%, market cap: $51.752B] has agreed to pay its founder a salary for a full five years after he has ________. The logical (and upsetting) conclusion of that sentence is “retired.”
No public company or even private company with minority shareholders should ever pay an executive who is retired or otherwise not contributing. However, Comcast has decided to take callous disregard of shareholders to a whole new level by agreeing to pay its founder for five years after he has died. He will even be paid a bonus in that time. Ouch.
Disclosure: I have no position in CMCSA, nor am I a customer.
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