QVC Honcho Mike George Got $1.2 Million In Comp In 2013

QVC Inc. President and CEO Mike George received $1.2 million in executive compensation last year, way down from the prior year’s $18.2 million.

That was the dish from the proxy statement that QVC’s parent, Liberty Interactive Corp., filed Monday with the Securities and Exchange Commission.

http://ir.libertyinteractive.com/secfiling.cfm?filingid=1047469-14-5802&CIK=1355096

We’ve read the filing several times, and our thick head still can’t figure out exactly why George’s comp took such a hit. We’re not sure if it is related to stock options he has coming, or what.

We do know that the CEO of QVC’s parent, Greg Maffei, also had a significant drop in his executive compensation in 2013. It nosedived to $2.7 million from $45.3 million in 2012.

George’s base salary was just about flat this year, at just over $1 million. The biggest change in his comp was for option awards: He had none in 2013 but $16.1 million in 2012.

Of anyone can make sense of the filing, please enlighten us.

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One Response to “QVC Honcho Mike George Got $1.2 Million In Comp In 2013”

  1. Connie Says:

    As a lackey for Liberty unfortunately King Mike ain’t wearing no clothes. He and his cohorts from Liberty are systematically destroying what was once a great company. You can be the judge if he is worth the money, I say it is not even close.

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