HGTV and Food Network Had Strong Year, But Top Execs Get Pay Cut Anyway–Here’s Why

Mar 23, 2010  •  Post A Comment

HGTV and Food Network had a strong year, but at parent company Scripps Networks Interactive executives got a pay cut in 2009 anyway, Multichannel News reports.

That’s because some of their pay is tied to the performance of their stock on the stock market. So Chairman and CEO Ken Lowe’s total compensation dropped 5.1 percent, to $6.97 million; EVP and CFO Joseph NeCastro’s total compensation fell 10.1 percent to $2.7 million, and EVP and Networks president John Lansing took an 18.3 percent hit, to $2.7 million.

The company’s revenue for the year was down slightly, but net income was way up.

One Comment

  1. This is good info! Where else can if ind out more?? Who runs this joint too? Keep up the good work 🙂

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