After earning more than £ 100 million in 13 years on the job, Darroch becomes executive president.
Two years after the US giant Comcast’s £ 31 billion acquisition of Rupert Murdoch’s pan-European pay TV and broadband empire, Jeremy Darroch became executive chairman, shifting positions. Dana Strong, a former executive of Virgin Media, has been appointed the new group chief executive of Sky.
Strong had previously been touted as a candidate for the chief executive role of Virgin Media, but was recruited by Comcast two years ago to head up customer service for the U.S. cable company. Under Darroch’s tenure, the valuation of Sky has almost tripled, from around £ 6 a share when he took over as chief executive at the end of 2007 to £ 17. When he sold his Sky shares and others awarded under executive compensation programs, the bid price Comcast charged for Sky netted Darroch more than £ 37 million. 58, who served before joining Sky at Procter & Gamble and Dixons, has earned well over £ 100 million since joining the satellite broadcaster in 2004 as chief financial officer. In 2013, he got a pay package of 17 million pounds, 18 million pounds in 2015 and 16 million pounds in 2017. Darroch paid a tax bill of £ 14 million for the £ 37 million windfall – more than the entire annual U.K. The tax bill charged in the previous year by Amazon, Facebook and Netflix combined. Darroch agreed to remain with the broadcaster after the contract with Comcast, which defeated Disney and Fox in the bidding war for ownership of Sky. For 13 years, it was a privilege to run Sky and an experience that I looked forward to every day, so it was not easy to decide to leave the broadcaster,”It has been a privilege to run Sky for 13 years and an experience I have looked forward to every day, so the decision to leave the broadcaster has not been easy,” Brian Roberts, chief executive of Comcast, praised the work of Darroch in “Brian Roberts, Comcast’s chief executive, praised Darroch’s work in ” the Sky sector. ” the Sky business. ” he said. ” he said. ” “Darroch has overseen the company’s major growth.
He spent nearly £ 7 billion in 2014 purchasing Sky’s sister companies in Germany and Italy, and later expanded into Spain to create Sky into a 24 million-customer pan-European broadcaster.
In the U.K., since Darroch took over, Sky has more than doubled in size, hiring more than 26,000 staff.