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Time Warner Gives Bewkes Three More Years

Time Warner Inc., said it has extended the employment contract of chairman and CEO Jeff Bewkes three years, ensuring the industry veteran will remain at the helm of the content giant through 2020.

“The board of directors is delighted that Jeff has agreed to extend his employment agreement for another three years,” said Time Warner’s lead independent director Steve Bollenbach in a statement. “Since becoming CEO, Jeff has transformed the company to focus on video content, capitalized on the combined strength of Turner, HBO, and Warner Bros., and delivered consistently strong operating and financial performance.”

During the time Bewkes has served as CEO, Time Warner has delivered a total shareholder return of 162%, well ahead of both the S&P 500 and the average return of its media peers, the company said in a statement.

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