Four directors of Paramount Global will not standing for re-election at the annual meeting, an SEC filing has confirmed, paring the board down to seven directors.
Shareholders will vote on directors and other matters at the meet, which Paramount has set for June 4.
The proxy statement, which also lists the salaries of a company’s top five highest paid executives, said CEO Bob Bakish saw his compensation package dip slightly in 2023 to $31.3 million from $32 million in the prior year. He was by far the top-paid member of the senior management team, with the next-best-compensated being CFO Naveen Chopra, with a total package worth $8 million.
Bakish saw a $3.1 million base salary, stock awards worth $15.5 million and a cash incentive bonus of $12.4 million plus another $200+k for a total of $31.26 million.
Paramount is currently in an exclusive 30-day exclusive negotiating window with David Ellison’s Skydance Media for a deal that is...
Shareholders will vote on directors and other matters at the meet, which Paramount has set for June 4.
The proxy statement, which also lists the salaries of a company’s top five highest paid executives, said CEO Bob Bakish saw his compensation package dip slightly in 2023 to $31.3 million from $32 million in the prior year. He was by far the top-paid member of the senior management team, with the next-best-compensated being CFO Naveen Chopra, with a total package worth $8 million.
Bakish saw a $3.1 million base salary, stock awards worth $15.5 million and a cash incentive bonus of $12.4 million plus another $200+k for a total of $31.26 million.
Paramount is currently in an exclusive 30-day exclusive negotiating window with David Ellison’s Skydance Media for a deal that is...
- 4/11/2024
- by Jill Goldsmith and Dade Hayes
- Deadline Film + TV
U.S. corporate giants are the teeth of another wild ride on Wall Street as investors brace for the end of a week of historic losses for the Dow and other major indices.
AT&T, Apple, Comcast and Disney saw declines in the 3%-5% range in early trading on Friday as global markets react to spiking fears about the coronavirus crisis expanding rapidly into a full-fledged pandemic.
The Dow Jones Industrial Average fell more than 1,000 points shortly after the session began. The Nasdaq sank more than 200 points. By 1 p.m. Et, both Dow and Nasdaq had recovered some, with the Dow hovering around a 400-point loss and Nasdaq about 40-50 points in the red. Major media and tech stocks made some strides in the afternoon, seesawing between losses in the 1%-2% range to slight gains.
The fast selloff on Thursday — when the Dow logged a new record for total point loss...
AT&T, Apple, Comcast and Disney saw declines in the 3%-5% range in early trading on Friday as global markets react to spiking fears about the coronavirus crisis expanding rapidly into a full-fledged pandemic.
The Dow Jones Industrial Average fell more than 1,000 points shortly after the session began. The Nasdaq sank more than 200 points. By 1 p.m. Et, both Dow and Nasdaq had recovered some, with the Dow hovering around a 400-point loss and Nasdaq about 40-50 points in the red. Major media and tech stocks made some strides in the afternoon, seesawing between losses in the 1%-2% range to slight gains.
The fast selloff on Thursday — when the Dow logged a new record for total point loss...
- 2/28/2020
- by Cynthia Littleton
- Variety Film + TV
CBS Corp. has named Richard Parsons interim chairman of the Board of Directors.
The Company also announced that Bruce Gordon and William Cohen, who have served on the Board of Directors since CBS became a stand-alone public company in 2006, have decided to step down from their posts to focus on other personal and professional priorities.
The Board unanimously approved the appointment of Parsons, which was recommended by the Board’s Nominating and Governance Committee.
Also Read: CBS Board Shakeup: 6 New Independent Directors In and 6 Out as Les Moonves Exits Company
“Dick Parsons has a combination of deep industry knowledge and unmatched corporate and board experience,” said Candace Beinecke, chair of CBS’ Nominating and Governance Committee. “We are fortunate to have Dick in this leadership role.”
The move comes a few weeks after a shakeup on the CBS board of directors that saw five independent directors and one National Amusements Inc.
The Company also announced that Bruce Gordon and William Cohen, who have served on the Board of Directors since CBS became a stand-alone public company in 2006, have decided to step down from their posts to focus on other personal and professional priorities.
The Board unanimously approved the appointment of Parsons, which was recommended by the Board’s Nominating and Governance Committee.
Also Read: CBS Board Shakeup: 6 New Independent Directors In and 6 Out as Les Moonves Exits Company
“Dick Parsons has a combination of deep industry knowledge and unmatched corporate and board experience,” said Candace Beinecke, chair of CBS’ Nominating and Governance Committee. “We are fortunate to have Dick in this leadership role.”
The move comes a few weeks after a shakeup on the CBS board of directors that saw five independent directors and one National Amusements Inc.
- 9/25/2018
- by Tim Baysinger
- The Wrap
CBS and National Amusements Inc. have just ended a brief but no-holds-barred turf war. So who gained the most ground and what is next for the company?
For starters, a settlement reached Sunday averts the trial that was scheduled to begin Oct. 3 in Delaware Chancery Court. But it still leaves open a question neither side has been able to solve: Where does CBS go in a world in which it is being dwarfed by rivals?
CBS has a big presence in the U.S. media landscape thanks to its history and the big-tent hits that populate its mothership network. Yet the company is smaller than ever before when compared with Comcast (owner of NBCUniversal); Amazon; Disney (about to snatch up a good chunk of 21st Century Fox); or Netflix.
Shari Redstone, the leader of Nai, had been pressing for change: a possible merger with her family’s other large holding,...
For starters, a settlement reached Sunday averts the trial that was scheduled to begin Oct. 3 in Delaware Chancery Court. But it still leaves open a question neither side has been able to solve: Where does CBS go in a world in which it is being dwarfed by rivals?
CBS has a big presence in the U.S. media landscape thanks to its history and the big-tent hits that populate its mothership network. Yet the company is smaller than ever before when compared with Comcast (owner of NBCUniversal); Amazon; Disney (about to snatch up a good chunk of 21st Century Fox); or Netflix.
Shari Redstone, the leader of Nai, had been pressing for change: a possible merger with her family’s other large holding,...
- 9/10/2018
- by Brian Steinberg
- Variety Film + TV
Two months shy of his 80th birthday, music industry veteran Doug Morris is vacating his seat on CBS Corp.’s board of directors. The announcement came Sept. 9 on the heels of news that Les Moonves was stepping down as chairman and CEO of CBS amid a cascade of sexual assault allegations.
Morris, the only executive to have held a chief position at each of the three major music groups, joined the board in 2007 when he was chairman and CEO of Vivendi’s Umg. Last year Morris collected some $332,000 in compensation and stock, according to an SEC filing by CBS, for his service on the board.
Morris spent 2011 through 2017 as CEO of Sony Music, home to Adele, Bruce Springsteen and Tony Bennett, among many others. His first ascent to the top of the C-suite came in 1994 when Morris took on the role of president and COO of Warner Music U.S.
Morris, the only executive to have held a chief position at each of the three major music groups, joined the board in 2007 when he was chairman and CEO of Vivendi’s Umg. Last year Morris collected some $332,000 in compensation and stock, according to an SEC filing by CBS, for his service on the board.
Morris spent 2011 through 2017 as CEO of Sony Music, home to Adele, Bruce Springsteen and Tony Bennett, among many others. His first ascent to the top of the C-suite came in 1994 when Morris took on the role of president and COO of Warner Music U.S.
- 9/10/2018
- by Shirley Halperin
- Variety Film + TV
CBS must work to put its former CEO, Leslie Moonves, in the past. To do so, it has hired a new slate of directors who have a fair amount of expertise in peering into the future.
CBS’ new directors include an attorney who specializes in mergers and acquisitions; a former top Wall Street investment banker; the CEO of a toy company that has worked to expand into entertainment; an expert in corporate transformation; a veteran entertainment-industry executive; and the former CEO of Time Warner. They take new roles as the company – the owner of what is one of the nation’s best known TV networks – attempts to move forward after Moonves left in the wake of multiple women levying serious allegations of sexual harassment against him and as the company grapples with a new world in which digital giants are outmaneuvering many of the entertainment’s traditional bellwethers.
Candace Beinecke...
CBS’ new directors include an attorney who specializes in mergers and acquisitions; a former top Wall Street investment banker; the CEO of a toy company that has worked to expand into entertainment; an expert in corporate transformation; a veteran entertainment-industry executive; and the former CEO of Time Warner. They take new roles as the company – the owner of what is one of the nation’s best known TV networks – attempts to move forward after Moonves left in the wake of multiple women levying serious allegations of sexual harassment against him and as the company grapples with a new world in which digital giants are outmaneuvering many of the entertainment’s traditional bellwethers.
Candace Beinecke...
- 9/10/2018
- by Brian Steinberg
- Variety Film + TV
CBS has made it official: Leslie Moonves is stepping down as chairman-ceo amid a cascade of sexual assault allegations, and CBS and National Amusements Inc. have settled the legal battle that erupted in May over control of the company.
CBS chief operating officer Joe Ianniello has been named interim CEO of the company. The shakeup at the top includes the addition of six new board members to the 14-member CBS board, which has been at odds with Nai.
“CBS is an organization of talented and dedicated people who have created one of the most successful media companies in the world,” said Shari Redstone, CBS vice chair and president of Nai. “Today’s resolution will benefit all shareholders, allowing us to focus on the business of running CBS – and transforming it for the future. We are confident in Joe’s ability to serve as acting CEO and delighted to welcome our new directors,...
CBS chief operating officer Joe Ianniello has been named interim CEO of the company. The shakeup at the top includes the addition of six new board members to the 14-member CBS board, which has been at odds with Nai.
“CBS is an organization of talented and dedicated people who have created one of the most successful media companies in the world,” said Shari Redstone, CBS vice chair and president of Nai. “Today’s resolution will benefit all shareholders, allowing us to focus on the business of running CBS – and transforming it for the future. We are confident in Joe’s ability to serve as acting CEO and delighted to welcome our new directors,...
- 9/9/2018
- by Cynthia Littleton
- Variety Film + TV
Les Moonves isn’t the only face leaving CBS. Five independent directors and one National Amusements Inc.-affiliated director are exiting the company’s board, CBS and National Amusements said in a joint statement on Sunday night. They will be replaced by the following six new independent directors: Candace Beinecke, Barbara Byrne, Brian Goldner, Richard D. Parsons, Susan Schuman and Strauss Zelnick.
Bruce Gordon, William Cohen, Gary Countryman, Linda Griego and Martha Minow will remain in their places on the board, as will the Nai-affiliates, Shari Redstone and Robert Klieger.
“The ongoing members of the Nominating and Governance Committee have endorsed the new independent directors,” the CBS and Nai media release read.
Click here for more information from Sunday’s settlement, which sees COO Joe Ianiello replacing Moonves on an interim basis. Also of interest from this evening’s announcement, Moonves may not receive any severance. Additionally, he and...
Bruce Gordon, William Cohen, Gary Countryman, Linda Griego and Martha Minow will remain in their places on the board, as will the Nai-affiliates, Shari Redstone and Robert Klieger.
“The ongoing members of the Nominating and Governance Committee have endorsed the new independent directors,” the CBS and Nai media release read.
Click here for more information from Sunday’s settlement, which sees COO Joe Ianiello replacing Moonves on an interim basis. Also of interest from this evening’s announcement, Moonves may not receive any severance. Additionally, he and...
- 9/9/2018
- by Tony Maglio
- The Wrap
After months of bitter legal battles with National Amusements and two waves of sexual-misconduct allegations, Les Moonves is officially out as chairman and CEO of CBS, enabling Nai chief Shari Redstone to declare victory again.
The exit of Moonves marks the end of his 24-year run at the company as one of media’s most imposing chief executives. As part of the settlement, he and CBS are donating $20 million to one or more organizations that support the #MeToo movement.
The company was silent on the terms of a possible settlement with Moonves, who had been negotiating a $100 million exit package. However it said the charitable donations have been deducted from any severance benefits Moonves would receive, pending the outcome of the ongoing investigation into alleged misconduct.
Moonves’ departure comes as part of a sweeping series of agreements that formally end hostilities between CBS and the media company’s controlling shareholder.
The exit of Moonves marks the end of his 24-year run at the company as one of media’s most imposing chief executives. As part of the settlement, he and CBS are donating $20 million to one or more organizations that support the #MeToo movement.
The company was silent on the terms of a possible settlement with Moonves, who had been negotiating a $100 million exit package. However it said the charitable donations have been deducted from any severance benefits Moonves would receive, pending the outcome of the ongoing investigation into alleged misconduct.
Moonves’ departure comes as part of a sweeping series of agreements that formally end hostilities between CBS and the media company’s controlling shareholder.
- 9/9/2018
- by Dade Hayes, Dawn C. Chmielewski and Dominic Patten
- Deadline Film + TV
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