“Bob Bakish, who has led Viacom as CEO since 2016 and is in position to lead the combined entity, has been signed to a four-year deal,” reports Deadline.
The article adds that Bakish’s new total annual pay package “of more than $31 million represents a significant hike for [him, since he made] $20 million in 2017 and 2018. Bakish’s predecessor Philippe Dauman, turned heads by pocketing $93 million in 2016 after presiding over years of decline at the company. Across the aisle at CBS, former CEO Les Moonves had pay packages close to $70 million in recent years.”
Deadline also notes that “Joe Ianniello, who will be chairman and CEO of CBS, reporting to Bakish, has also re-upped but only through the start of 2021. Under the terms of his contract at CBS, Ianniello will get a lump-sum payment of $70 million upon the close of the merger because he wasn’t given the top job.”