QVC Honcho Made $7.7 Million Last Year

It’s that time of the year, proxy time, when we tear out our hair wishing we had become big company honchos rather than ink-stained wretches. So wanna guess how much the QVC bigwig Mike George raked in last year?

According to a filing with the SEC on Monday, last year the QVC president and CEO received $7.7 million in executive compensation, a big increase over his $5.4 million in 2016. In 2017 he had a base salary of $1.25 million, $4.3 million in stock awards, $2 million in non-equity incentive plan comp and a piddling $171,000 in other comp, chump change.

http://ir.libertyinteractive.com/secfiling.cfm?filingID=1047469-18-2656&CIK=1355096#A2235222ZPRE14A_HTM_H48

Here’s a bit about his employment arrangement:

On September 27, 2015, the compensation committee approved a new compensation arrangement with Michael A. George, the President and Chief Executive Officer of QVC. The arrangement provides for a five year employment term beginning December 16, 2015 and ending December 31, 2020, with an annual base salary of $1.25 million and an annual target cash bonus equal to 100% of Mr. George’s annual base salary.

The arrangement also provides Mr. George with the opportunity to earn annual performance-based equity incentive awards during the employment term, as described in more detail below. In connection with the approval of his compensation arrangement, Mr. George was granted the 2015 Term Options with respect to shares of QRTEA, also as described in more detail below. Mr. George’s compensation arrangement was memorialized in the George Employment Agreement executed on December 16, 2015.

Following its acquisition of HSN, Liberty Interactive Corp. is being renamed Qurate Retail Inc. It will hold a conference call to discuss its first-quarter results May 10 at 11 a.m.

Following prepared remarks, the company will host a brief Q&A session during which management will accept questions regarding Qurate.

The call will be broadcast live via the internet. All interested participants should visit the Qurate website at http://www.libertyinteractive.com/events to register for the webcast. Links to the press release and replays of the call will also be available on the Qurate website. The conference call will be archived on the website for one year after appropriate filings have been made with the SEC.

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Jewelry Designer Dweck At QVC, Wendi Russo Exits Evine

Catching up:

We’ve long admired upscale jewelry designer Stephen Dweck’s gorgeous chunky gem pieces, which we would longingly gaze at in showcases in stores like Neiman Marcus.

Now Dweck is doing a jewelry line for QVC. The pieces are not cheap, but they are less pricey than his Neiman stuff. One silver chain was already on wait list.

http://www.qvc.com/catalog/search.html?keyword=Stephen+Dweck

We’re told the Evine host Wendi Ross has left the network. From what we can tell from her Facebook page, she is coaching young women how to complete in beauty pageants now.

She had been at the home shopping network since June 2004, a pretty long run of 14 years.

Ex-Makeup Mogul Bobbi Brown Brings Wellness To QVC

Former makeup mogul Bobbi Brown, who lives in our town of Montclair, N.J., will be debuting a wellness line on QVC on April 20, according to The Sunday New York Times.

The Times did a mega-profile on Brown, who also spends time in a multimillion dollar apartment on Manhattan’s High Line, that unveiled her plans and gave a lot of tidbits about her personal life and career.

Brown, of course, made her name by creating a natural-style beauty line.

In the midst of building that empire, she and her husband developer Steven Plofker, who we covered at Montclair Local, rubbed elbows with celebs galore. She drops quite a few names in The Times piece – evenings with Mike Jagger, fellow Montclair resident Stephen Colbert, and Patti Scialfa, Bruce Springsteen’s spouse.

But as you may or may not know, Brown sold her makeup company for what The Times said was $75 million. Brown claims she doesn’t remember the sale price.
Now she and her husband have opened an upscale boutique hotel in Montclair, The George Inn, and as we said, Brown is coming to QVC with her new wellness products, Beauty Evolution.