CBS CEO Leslie Moonves' Pay Falls Slightly to $56.8 Million in 2015
He had made $57.2 million in 2014.
CBS Corp. chairman, president and CEO Leslie Moonves received compensation of $56.8 million in 2015, compared with $57.2 million in 2014, according to the company's proxy statement filed Friday with the Securities and Exchange Commission.
Moonves was paid $66.9 million in 2013, and he made $62.2 million in 2012.
Moonves has been with CBS since 1995 and has headed CBS since it split from Viacom in 2005. For most of that time, Moonves has overseen the company with the highest-rated broadcast network and strong financials.
Nevertheless, CBS shares dropped 14 percent last year as Wall Street worried about digital competition from the likes of Amazon.com, Hulu and others. Moonves' pay in 2015 was 1 percent lower than it was in 2014.
In addition to the CBS broadcast network, the company's portfolio includes Showtime, the CBS Sports Network, CBS Films, 50 percent of The CW and other businesses.
The proxy also disclosed the pay for 92-year-old chairman emeritus Sumner Redstone, the ailing controlling shareholder of CBS and Viacom through his stake in National Amusements. He made $1.8 million, down from $10.8 million in 2014 and $57.2 million the year before that.
Redstone is in the midst of some nasty legal proceedings involving his mental competence and whether or not an ex-girlfriend should have sway over his healthcare decisions.
Moonves took over the chairman role from Redstone earlier this year.
Joseph Ianniello, the COO, earned $26.4 million, down from $27 million the year before, while Lawrence Tu, the chief legal officer, made $7.5 million, down from $11.3 million.
Anthony Ambrosio, the chief administrative officer and chief human resources officer, was paid $4.1 million, down from $4.5 million. Gil Schwartz, named chief communications officer last year, made $3.8 million.