Paramount CEO Bob Bakish’s Compensation Jumps To $32 Million
Dawn Ostroff Added to Paramount’s board
Paramount CEO Bob Bakish’s compensation for 2022 was $32.05 million, up from $20.06 million in 2021, according to a proxy statement filed with the Securities and Exchange Commission.
Bakish received a stock award of $16 million. He did not receive a stock award in 2021. He got a $16 million stock award in 2020, when his compensation was $39 million.
Paramount also announced the addition of Dawn Ostroff as an independent, non-executive director
Ostroff was most recently Chief Content and Advertising Business Officer at Spotify, Prior to Spotify, she was president of Conde Nast Entertainment. Before that she was president of entertainment for The CW.
"We are thrilled to welcome Dawn to Paramount's Board at such an exciting moment in our evolution," said Shari Redstone, Chair of Paramount's Board of Directors. "We believe her leadership, diverse expertise in content strategy and her long track record of driving transformation will prove invaluable as we seek to continue building on the success of Paramount's global multiplatform strategy."
Ostroff will stand for election at the company’s annual shareholder meeting. Two current directors, Candace Beinecke and Ronald Nelson, will not stand for re-election.
The change will leave the Paramount Board with eleven members, with eight members serving as independent directors, pending the vote at the annul meeting. ■
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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.