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Deadline

ViacomCBS CEO Bob Bakish to Get Sizable Pay Increase to Run the Combined Company, But It Won’t Be What Former CBS CEO Leslie Moonves Was Being Paid

Aug 20, 2019  •  Post A Comment

“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.”

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