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Biz Briefs: EchoStar’s Dugan Resigning Post, Joining Board

Apr 12, 2004  •  Post A Comment

EchoStar Communications President and Chief Operating Officer Michael Dugan is stepping down from his post, effective April 30. He will join the EchoStar board and serve as a senior adviser, providing him time to complete work on a guest ranch in northern Colorado for disadvantaged youths and to spend more time with his family. He is expected to assume board member duties at the company’s May 6 annual shareholders meeting.
Hindery Stepping Down as Chief of YES Network
Leo Hindery, chairman and CEO of the YES Network, said last week he is stepping down as chief of the sports network to focus more on his personal interests, including throwing his support behind Democratic presidential hopeful John Kerry. He will remain nonexecutive chairman of the channel. Mr. Hindery has been at the helm of the network since its start in September 2001.
MGM Officers Report Salary, Bonus Increases
MGM Chairman and CEO Alex Yemenidjian brought home 57 percent more in take-home pay in 2003 than he did a year earlier, in large part due to a bonus he received for the year, according to a filing with the Securities and Exchange Commission submitted last week. Mr. Yemenidjian’s total remuneration was $3.98 million last year, compared with a year-earlier figure of $2.52 million. While his base salary was unchanged at $2.5 million, he earned a bonus of more than $1.45 million. In 2002 he received no bonus. Meanwhile, Vice Chairman and Chief Operating Officer Christopher McGurk earned $3.62 million last year, up from $2.21 million the year before. The increase was the result of a slightly higher base salary as well as a $1.33 million bonus. In 2002 he likewise did not receive a bonus.
Cox Executives’ Compensation Soars
Cox Communications President and CEO Jim Robbins saw his total remuneration package more than double in 2003 to nearly $5.5 million, as both his base salary and his annual bonus increased and he received nearly $2.6 million in restricted stock awards, according to a Securities and Exchange Commission filing submitted last week. That compared with a 2002 remuneration of $2.3 million. Executive VP and Chief Operating Officer Patrick Esser saw his remuneration more than double to $2.4 million from $1.1 million a year earlier, largely the result of bonus and salary increases and more than $1 million in restricted stock awards. Chief Financial Officer Jimmy Hayes, meanwhile, saw his compensation grow to just over $2 million from a year-earlier $1.1 million, with his salary and bonus rising 4.5 percent each. He received nearly $879,000 in restricted stock awards.