Bakish will get a big raise as head of ViacomCBS; Ianniello committed to stay on until 2021 [Los Angeles Times (CA)]
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Source: Los Angeles Times
Viacom President and Chief Executive Bob Bakish is in line for a big pay increase after the completion of his company’s reunification with CBS . Bakish, who will be president and chief executive of ViacomCBS once the proposed merger of the media conglomerates is complete, will have an annual base salary of $3.1 million and is eligible to receive equity compensation with a target of $16 million and a cash bonus of $12 million, according to documents filed Monday with the Securities and Exchange Commission. He will also get a one-time grant of stock worth $5 million. Bakish earned $19.9 million in salary, bonuses and stock last year. The filings also show that CBS Corp. President and acting Chief Executive Joe Ianniello will remain with the merged company for at least 15 months after the completion of the all-stock transaction, which is expected by the end of this year. CBS, which is the larger of the two companies and worth $18.5 billion, will absorb the smaller Viacom, which owns such
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