Leslie Moonves has signed an extension with CBS that will keep him in place as CEO of CBS Corp. until June 2019, Variety reports.

“According to CBS, Moonves’ base salary will remain unchanged under the new deal although he will be eligible [for] a performance-based bonus, which is where the lion’s share of his considerable compensation has come from,” the story reports. “At the end of his exec contract, Moonves, 65, will become an executive advisor to the company for five years and have the option to launch a CBS-based production company.”

The arrangement amounts to a two-year extension on Moonves’ previous contract and puts to rest any succession talk surrounding his position, the report notes.

Leslie Moonves