Paramount Global, formerly known as ViacomCBS, on Friday announced the compensation of its chairman and CEO, Bob Bakish, and other senior executives, with a third energy offering since its inception through the hiring of Viacom and from CBS Corp. in 2019 .
The company, controlled by Shari Redstone and other members of the Redstone family, said in a filing with the Securities and Exchange Commission that Bakish received $20 million in 2021 after generating $38.9 million in 2020. Receive it. Get a cash bonus in 2021 and don’t get new stock rewards. Instead, his compensation consisted of a salary of $3.1 million and $16.8 million in a non-equity incentive plan.
The Redstone family, National Amusements, controls about 80% of the company’s voting shares, for which Shari Redstone serves as non-executive chairman.
Shares in the conglomerate, which includes assets including Paramount Pictures Studio, MTV, Nickelodeon, BET, Comedy Central and Paramount+ and streaming services Pluto TV, are down 25% in 2021 due to volatility in hedge betting. Archegos Capital Management Foundation.
However, the company increased revenue by 13% in 2021 to $28.6 billion. Operating income increased 52% to $6.3 billion, while earnings per share from continuing operations increased 79% to $6.69.
Global streaming subscribers grew by more than 56 million last year, with Pluto TV topping out to more than 64 million monthly active users in 2021.
In mid-February, Management revealed a corporate rebrand at Paramount and the debut of an updated streaming strategy that works flawlessly and is based on reviving and reloading nostalgic fan-favorite IP and popular ongoing projects.
Other top Paramount executives also saw their salary packages cut in 2021. CFO Naveen Chopra received the package, valued at less than $4 million, down from $11 million a year earlier, while general counsel Krista A. Public Policy and Government Relations, Mother Leah, will generate US$ 2.1 million, while the Director General, Nancy Phillips, foresees a salary package of US$ 1.8 million.
On Friday, Paramount announced that it had extended its contracts with Lea and Phillips and kept them with the company until 2025.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
