CBS chairman and CEO Les Moonves received total compensation of $56.8 million in 2015, a 1% reduction from the $57.2 million he got in the prior year, while the company’s largest shareholder, Sumner Redstone, saw his haul plunge 83% to $1.8 million, according to a proxy filing with the Securities and Exchange Commission Friday.
According to the document, Moonves received a base salary of $3.5 million, a $19 million bonus (down from $25 million in 2014) and stock awards valued at $25.5 million (up from $14.5 million in 2014). Moonves’ option awards fell to $7.2 million from $10 million in 2014. His pension value also dipped in 2015 to $421,021 from $2.8 million in 2014.
Redstone, in poor health and the focus of a nasty court battle concerning his overall mental competency, took the biggest hit, logging overall compensation of $1.8 million for the year, down from the $10.8 million he received in 2014. In 2013, Redstone received $57.2 million in total comp.
Redstone received the same base salary in 2015 of $1.75 million, but he received no bonus, stock awards and option awards. The 92-year-old media mogul, who relinquished his executive chairman title in February, still controls 80% of CBS’ and Viacom’s voting stock.
CBS chief operating officer Joe Ianniello also took a slight reduction in pay (2%), receiving $26.4 million in total compensation compared to $27.03 in 2014. Senior executive vice president, chief administrative officer and chief human resources officer Anthony Ambrosio received $4.1 million in total compensation in 2015, down 9% from the $4.5 million he received in the prior year, while senior executive vice president and chief legal officer Lawrence Tu took home $7.5 million in total compensation, down 34% from the $11.3 million he received in 2014.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.