Fox News Chief Executive Roger Ailes has vowed to overhaul his compensation package as the company tries to make more of a difference in the news business.
Ailes, who has been the subject of intense scrutiny for the way he treated some employees, has been fired from Fox News and replaced by his longtime partner and former Fox News contributor Kevin Madden.
A major theme of Ailes’ first day at Fox News was the need for more transparency and transparency in the compensation structure.
He will unveil his new pay structure as part of an earnings call on Monday.
Here are some of the highlights of what we learned: Ailes says he will introduce a new model for remunerations for Fox News Channel’s top executives.
According to Ailes at the Fox News earnings call, his team will propose a new system that would include a new “core compensation” and “delta compensation” that would be determined by the network’s revenue and editorial priorities.
A more robust approach to remunerating would involve making a better sense of the remuneratory value of the position and an analysis of what the network should be paying its top executives based on their performance.
A new “dynamic compensation” would also be proposed, which would take into account the changes in revenue and audience that result from changing technology.
“I think it is important to make sure that the compensation that is being offered is a reflection of what that company is doing,” Ailes said.
“We are not making this decision to reward people based on performance.”
Ailes also said the new compensation framework would be made public as part a report on Fox News, but he did not say when that report would be released.
Ails’ proposal is expected to be released during the second quarter of the year.
A Fox News spokesperson declined to comment on whether Ailes would remain as executive chairman, but the network is expected have a board that includes new executives by the end of the month.
Airing Fox News on air will become more expensive over the next several years, but Ailes will continue to make a small salary in order to keep the network afloat.
“When you have to pay people a higher salary than you should, it hurts you,” Ales said.