QVC Big Kahuna Michael George Received $18.2 Million Paycheck Last Year

QVC Inc. top honcho Michael George took a $10 million cut in his executive compensation last year, bringing home a measly $18.2 million.

George’s salary and other comp was outlined in a filing by QVC’s parent, Liberty Medis Interactive, in a proxy statement filed with the Securities and Exchange Commission on Friday. The numbers are listed on page 44.

QVC President Michael George

QVC President Michael George

George’s base salary was $1,030,000, reflecting a 3 percent increase over 2011.

His non-equity incentive plan comp jumped up, to $875,500 from $700,000. And all other compensation soared to $223,977 from $52,583.

The big dive in George’s compensation was in his stock option awards, which dropped to $16,110,136 from $27,867,300. If you want the complicated answer for that, you’ll have to look at the proxy.

By the way, the head of QVC’s parent Liberty Interactive, Greg Maffei, took home $45.3 million in executive compensation. Not bad for a year’s work.

Tags: , , , , ,

5 Responses to “QVC Big Kahuna Michael George Received $18.2 Million Paycheck Last Year”

  1. claire Says:

    Not bad for a guy who has done virtually nothing for QVC but seeks to reduce expenses by laying off warehouse and phone center workers.

  2. Cheryl Says:

    Wow. Thank you for posting this. I agree with Claire, Mike George hasn’t improved QVC one iota, and I get the impression that his goal is to slowly destroy it from within.

  3. clarie Says:

    No Cheryl his goal is to get richer than he is now (and something tells me he doesn’t need any more money). Unfortunately that often comes at the expense of the little hourly worker but who cares they would piss their paychecks away on cigarettes and beer. But, in all fairness to Mr. George he learned from the best pirates there every were, John Malone and the boys from Liberty Media, sailing on the SS Plunder and Pay No Taxes.

  4. Mammaberti Says:

    Helloooooo it is called capitalism folks……..that means the guy who takes risks and works hard makes mucho moola!

  5. clarie Says:

    Capitalism is the best system out there, agree. But there is a difference between hard work and the ability to innovate and the ability to grow a company rather than squeezing mediocre profits by squeezing hourly employees and cutting expenses. I’m not aware of any initiative that Mr. George has accomplished since being at QVC other than rushing into international markets where they are losing a lot of money, a stale format and a aging customer demographic. Sorry but QVC will one day go the way of some of the old line department stores unless they get better leadership.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: