CEO of Sky to get $50M from takeover

Houston Chronicle - - BUSINESS -

Sky Chief Ex­ec­u­tive Of­fi­cer Jeremy Dar­roch will take home as much as $50 mil­lion af­ter steer­ing the Bri­tish pay-TV com­pany into the arms of Com­cast Corp.

The 56-year-old sold his 775,772 shares in Sky worth $17.6 mil­lion to the U.S. cable giant as it pre­pares to com­plete the $39 bil­lion takeover, ac­cord­ing to a fil­ing Fri­day. Dar­roch will also cash in on pre­vi­ously awarded bonus shares.

Sky’s value soared dur­ing a pro­tracted bid­ding war in­volv­ing Ru­pert Mur­doch’s 21st Cen­tury Fox, Walt Dis­ney Co. and Com­cast that was set­tled by an auc­tion last month.

Dar­roch, the grand­son of a miner, was al­ready one of the best paid CEOs in Bri­tain, earn­ing$51.3 mil­lion in the past three years. He helped build Sky into a pan-Euro­pean broad­caster with 23 mil­lion cus­tomers, lur­ing cus­tomers with live Premier League soc­cer and hit dra­mas.

He joined as chief fi­nan­cial of­fi­cer in 2004 and has led the com­pany since 2007. Fol­low­ing Septem­ber’s auc­tion, Dar­roch had over­seen a near tripling in the Sky share price.

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