Comcast CEO Brian Roberts Literally Can't be Fired Comcast CEO Brian Roberts is effectively unfireable, and can remain CEO for as long as he wants the job. That was the conclusion of a recent Bloomberg piece on the CEO of the nation's biggest cable company, which notes that Roberts, the son of Ralph Roberts, who founded Comcast 55 years ago, is legally protected from being canned thanks to this segment in the Comcast articles of incorporation: quote:

The Chairman shall be Mr. Brian Roberts if he is willing and available to serve. The CEO shall be Mr. Brian L. Roberts if he is willing and available to serve. For so long as Mr. Brian L. Roberts shall be the CEO, he shall also be the President of the Corporation. Bloomberg is quick to note that this isn't a common clause, thanks to Roberts being the son of the man who founded the company. It's a nice position to be in, especially given Roberts has been routinely isolated from any real accountability at the company, which has been plagued for the better part of the last decade for having some of the worst customer service of any company in America. That has translated into some of the Bloomberg is quick to note that this isn't a common clause, thanks to Roberts being the son of the man who founded the company. It's a nice position to be in, especially given Roberts has been routinely isolated from any real accountability at the company, which has been plagued for the better part of the last decade for having some of the worst customer service of. That has translated into some of the worst satisfaction scores of any company in any industry, even when compared to consumer impressions of the IRS. "Board members are usually subject to shareholder votes when they’re up for reelection, and CEOs typically renegotiate their employment contracts every few years," notes the outlet. "But absent the kind of scenarios you can imagine would justify invalidating Comcast’s corporate charter, he’s basically CEO for life, or at least as long as he wants to be." Thanks to limited competition, many Comcast customers are similarly stuck with Comcast, just with notably fewer perks. Thanks to limited competition, many Comcast customers are similarly stuck with Comcast, just with notably fewer perks.







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Most recommended from 61 comments

miser

join:2004-01-16

Sandusky, OH 21 recommendations miser Member Must be nice! As the subject says, must be nice to have that silver spoon firmly planted in your mouth! kinda pissed

join:2012-06-06

Newsoms, VA 16 recommendations kinda pissed Member How do I get a gig like that How do I get a job where no matter how poorly I perform nobody can do anything about it?

davidc502

join:2002-03-06

Mount Juliet, TN 12 recommendations davidc502 Member Is this the same story as North Korea? Instead, this is a corporate Dictator? lol

ham3843

join:2015-01-15

USA 9 recommendations ham3843 Member So shareholders have NO real power or influence? Be very interesting to see how many folks that are shareholders sell their shares now that they know their votes mean absolutely nothing for all intensive purposes.



This guy didn't earn his stripes he just inherited them and considering how poorly the company is run and the contempt for the customers, it's clear that there are truly TWO sets of rules....one for

elite, well connected and wealthy, and those for the rest of us. I'd never give Comcrud a penny of my money.

TIGERON

join:2008-03-11

Boston, MA 6 recommendations TIGERON Member I am waiting for the ejection into the vacuum of space becomes an option That will be the perfect answer to what to do with the greedy wealthy. eco

Premium Member

join:2001-11-28

Wilmington, DE 5 recommendations eco Premium Member Not that uncommon While using language like this in its articles of incorporation to cement control by a founder/founders family is unusual, using tactics like this is not that uncommon. The usual way to do this is through a dual class share structure. For instance, even though Mark Zuckerberg doesn’t own more than 50% Facebook stock, his special class of shares give him almost a 60% controlling interest. Google is set up the same way for its founders. And it’s not just tech companies. The Ford family still has a controlling interest in the Ford Motor Company. neufuse

join:2006-12-06

James Creek, PA 3 recommendations neufuse Member 21st century fox Well after the $65 billion cash offer for 21st Century Fox that just happened..... Ostracus

join:2011-09-05

Henderson, KY 3 recommendations Ostracus Member When history votes. The ultimate solution to the "you can't touch me" is the company going out of business. There are several routes to this. From the historical technological changes (anyone want to buy a cotton gin?), to simply no one wanting to have any dealings with you, from employees, to suppliers. Even financial institutions not loaning any money has been the downfall of many a company. And in that spirit stock market crashes have ruined many a fortune. When in doubt, ask history.