8-KLeadership ChangesMaterial AgreementsExhibits & Filings

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Material Agreement (Jan 21, 2005)

Filed January 21, 2005For Securities:CHTR

Summary

Charter Communications, Inc. (CHTR) has filed an 8-K report announcing significant leadership changes, effective January 17, 2005. The company's Board of Directors has appointed Robert P. May as the Interim President and Chief Executive Officer, succeeding Carl E. Vogel, who has resigned from his positions as President, CEO, and Board member. Mr. May, a seasoned executive with extensive experience in the telecommunications and healthcare sectors, including prior interim CEO roles, will lead Charter during its search for a permanent CEO. The company has also established an Executive Search Committee to oversee the nationwide recruitment process for a new permanent President and CEO. While discussions regarding Mr. Vogel's separation agreement are ongoing, Charter has indicated that further disclosures will be made upon their conclusion. These executive transitions signal a period of strategic redirection and leadership reevaluation for Charter Communications.

Key Highlights

  • 1Robert P. May appointed Interim President and CEO, effective January 17, 2005.
  • 2Carl E. Vogel resigned as President, CEO, and Board member, effective January 17, 2005.
  • 3Charter's Board has formed an Executive Search Committee to find a permanent CEO.
  • 4Robert P. May has a background in telecommunications and has previously served as an interim CEO for HealthSouth Corporation.
  • 5Mr. May will serve as an independent contractor, receiving a $1.25 million annual base fee, with potential for a discretionary bonus.
  • 6Discussions are underway for a separation agreement with Carl E. Vogel.
  • 7The filing includes the Executive Services Agreement with Mr. May and a press release as exhibits.

Frequently Asked Questions

Robert P. May has been appointed as the Interim President and Chief Executive Officer of Charter Communications, effective January 17, 2005. He has also been appointed to the Executive Committee of the Board.

Carl E. Vogel resigned from his positions as President, Chief Executive Officer, and a member of the Board of Directors of Charter Communications, Inc., effective January 17, 2005. Discussions regarding the terms of his separation agreement are ongoing.

Robert P. May will receive a base fee of $1,250,000 per year as Interim President and CEO. He may also be eligible for a discretionary bonus of up to 100% of his base fee, based on performance, if he becomes the permanent CEO or is terminated without cause. He will continue to receive compensation as a Board member and will have expenses reimbursed.

Charter's Board of Directors has formed an Executive Search Committee to oversee a nationwide search for a permanent President and Chief Executive Officer.