So does this mean in 4 years Jeff Bewkes has to identify a successor?

-By YOSH The TimeWarner board signed off on CEO-elect Jeff Bewkes's salary and bonus agreement which can dump about $10 million a year in he and Peggy's bank account, Yeeah! for Peggy!. The agreement is for 5 years, but we're sure there is an option for renewal if the board is pleased with Bewkes's performance at the end of the 5 years. Outgoing CEO Dick Parsons will completely be done with TimeWarner at the end of 2008 where he will step down as Chairman. No word on whether or not Bewkes will land the Chairmanship at that time. But one things for sure, it may seem like its too soon to be thinking about, but one of the things that needs to be on Jeff Bewke's mind is who can he groom to be TimeWarner's next CEO after him? Incoming CEO Signs 5-Year Deal With Time Warner for $10.25 Million in Annual Salary, Bonus [AP]