News / Business
Time Warner Telecom revises COO contract
On 4 February 2006, the source reported that Time Warner Telecom had replaced John Blount’s earlier employment agreement less than a year after his promotion to chief operating officer. The new contract raised his base salary and increased the target for his annual bonus.
A revised executive package
The report compared the new terms with Blount’s June 2005 promotion package and calculated that his base salary was at least 47 percent above his earlier operations role. It also listed compensation changes for other senior executives. These were disclosed contractual figures from that period.
Financial context, carefully framed
Before its next quarterly results, the company had reported a smaller net loss in the prior year’s third quarter. That result supplied context for the management changes but did not establish future profitability. The item is a historical governance and compensation report, not current company information.