Viacom Details Compensation for Redstone, Freston, Moonves

Apr 15, 2005  •  Post A Comment

Viacom Chairman and CEO Sumner Redstone saw his take-home pay swell by 13 percent in 2004 to more than $21.6 million, according to the company’s 2004 proxy statement. The document was submitted Friday to the Securities and Exchange Commission ahead of the company’s May 26 annual meeting.

The increase came across the board for Mr. Redstone, who, among other things, saw his base salary rise to nearly $5 million from a year-earlier figure of $4 million and his cash bonus grow to $16.5 million from $15 million a year earlier.

The document also provided remuneration data for Viacom’s co-chief operating officers, Tom Freston and Les Moonves.

According to the document, Mr. Freston’s remuneration totaled $20.4 million, with his base salary at more than $4.2 million and his cash bonus at $16 million. Mr. Moonves’ remuneration also totaled $20.4 million, with his base salary pegged at nearly $5.8 million and his cash bonus set at $14 milion.

No year-ago information was provided for Mr. Freston or Mr. Moonves, as both men were appointed to the co-COO posts last May.