HGTV Owner Pays CEO $28.7 Million, With Chunk Tied to Succession
- Lowe will become executive chairman once replacement is found
- Got $19 million in stock tied to financials, succession plan
Kenneth W. Lowe.
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Scripps Networks Interactive Inc. awarded Chief Executive Officer Kenneth Lowe $28.7 million last year to make sure he stays until 2019 and helps find his successor.
Lowe, who’s also chairman, received $2.5 million in stock tied to succession-planning goals. That’ll vest in 2019 or when a new CEO is appointed, the company said in a regulatory filing Wednesday. He also got $16.5 million in shares, mostly linked to financial targets including adjusted net income and earnings before interest, taxes, depreciation and amortization.