CEO Bob Bakish's Pay Slipped to $31.3 Million as Paramount Nears Takeover

By Jon Lafayette
( Broadcasting & Cable )
published

Executive would get $64 million if he left because of a change in control

Bob Bakish
Bob Bakish (Image credit: Paramount)

Paramount Global, in the throes of takeover talk, said CEO Bob Bakish received total compensation of $31.3 million for heading the company in 2023, down 2.4% from the previous year. 

According to the company’s proxy statement, Bakish’s salary was unchanged at $3.1 million. He received $15.5 million in stock awards and $12.4 million in nonequity incentive plan compensation.

Paramount nonexecutive chair Shari Redstone is reportedly discussing selling National Amusements, the family holding company that controls Paramount Global.

Also Read: Paramount Global Cuts Streaming Losses, Posts Higher Q4 Profit

The potential transaction is not mentioned in the proxy statement.

In the case of a a dismissal following a qualifying change in control, Bakish would receive $64 million in salary, stock options and other payments, according to the proxy statement.

Pay for chief financial officer Naveen Chopra also rose, climbing 23% to $8 million.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.