John Stankey, head of WarnerMedia and AT&T’s chief operating officer, saw his 2019 compensation rise 36%, to a total of $22.47 million, according to a regulatory filing.
That included base salary of $2.9 million, stock awards of $9.53 million, $7.57 million in non-equity incentive plan compensation, $2.1 million in the change in pension value and nonqualified deferred compensation, and $367,000 in other compensation.
In the proxy filing, AT&T said, “Due to the unique pay practices in the media and entertainment industry, the consultant created a separate Media Peer Group, comprised of key organizations in the media and entertainment industry, against which to evaluate Mr. Stankey’s compensation.” That comprised Comcast, Amazon, CBS, AMC Networks, Discovery, Lionsgate and Netflix.
AT&T chairman and CEO Randall Stephenson’s pay package last year was $32 million, up 10% from $29.1 million in 2018.
Stankey, who has worked at the telco for more than three decades, in 2018 was named CEO of WarnerMedia following AT&T’s takeover of Time Warner. In October 2019, he was named president and COO of AT&T overseeing AT&T Communications, WarnerMedia, and Xandr, prompting speculation that he was in line to succeed Stephenson. The company has said Stephenson will remain AT&T’s CEO at least through the end of 2020.
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