Comcast CEO Brian Roberts and president Michael Cavanagh have disclosed their 2023 compensation packages, revealing some interesting details. Roberts’ pay reached $35.5 million last year, marking an 11 percent increase from the previous year. On the other hand, Cavanagh’s compensation package was valued at $29.6 million in 2023, showing a 27 percent decrease from 2022.
Despite the decrease in Cavanagh’s overall compensation, he saw increases in most categories, with his options awards dropping significantly from $21.1 million in 2022 to $7.0 million in 2023. Roberts, on the other hand, saw a rise in his stock awards, option awards, and non-equity incentive plan compensation.
Comcast’s regulatory filing praised Roberts for his long-term vision, stability, and commitment to advancing digital equity and environmental sustainability. The company highlighted its strong financial performance in 2023, with a 26 percent increase in stock value, revenue climbing to $121.6 billion, and adjusted net income rising to $16.5 billion.
The filing also mentioned the success of Comcast’s theme parks unit and streaming service Peacock, which surpassed $1 billion in quarterly revenue for the first time. Roberts and lead independent director Edward Breen expressed their satisfaction with the company’s performance in 2023, emphasizing their commitment to providing unparalleled entertainment experiences for viewers and guests.
Overall, Comcast’s top executives received significant compensation packages for their contributions to the company’s success in 2023, setting the stage for continued growth and innovation in the future.