It looks like Jeff Bewkes will get to be chairman of Time Warner ( NYSE: TWX ). At its annual meeting of shareholders today, a proposal to keep separate the roles of CEO and Chairman failed, with only 43 percent of votes cast in favor of the measure, according to Reuters . Meanwhile, sitting Chairman and former CEO Richard Parsons described the meeting as his "last shot at this" noting that he would soon be the outgoing chairman. This outcome is not a surprise, seeing as it was a key part of Bewkes' contract: if he is not appointed chairman, he would have the right to resign with pay and without a non-compete.
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TWX: Bewkes Has Hefty Five-Year Agreement; Parsons's Term As Chairman To End Next Year
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