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Steve Burke is staying with Comcast for a little while longer, quietly extending his contract last week.
The former NBCU CEO, who was succeeded by Jeff Shell in January, was supposed to formally retire in August. Burke had been serving as chairman since Shell took over. He will now stay on as chairman through the end of the year, before moving to a senior advisor role to Comcast CEO Brian Roberts.
Burke’s new contract, revealed in an SEC filing, will pay him $350,000 a year and runs through 2025.
Burke’s planned Aug. 14 retirement was supposed to coincide with the end of the 2020 Summer Olympics from Tokyo. Those Olympics are now the 2021 Games due to the coronavirus pandemic, though staging the worldwide event next summer still isn’t assured.
A Comcast veteran since 1998, Burke was named chief executive of NBCUniversal shortly after Comcast acquired the media company from General Electric in a 2011 deal worth $30 billion. Prior to Comcast, Burke served in various roles at The Walt Disney Company, including as president of ABC Broadcasting.
Burke wouldn’t be the only CEO to stick around after his tenure ends. Bob Iger is still very much involved in Disney as executive chairman after passing the baton to Bob Chapek.
Read original story Steve Burke Extends Tenure With Comcast, Will Become Adviser in 2021 At TheWrap