CBS’ Leslie Moonves 2010 Salary Jumps 34% to Nearly $58 Million
CBS Corp. president and CEO Leslie Moonves received $57.7 million in total compensation last year, up 33.6% from the $43.2 million he made in 2009, according to a regulatory filing late Friday.
Moonves' base salary was unchanged at $3.5 million, but his bonus increased from $15 million to $27.5 million.
The bonus consists of $20 million "for the successes in his role as president and chief executive officer of the company" plus and a special cash payment of $7.5 million "for his leadership in connection with the creation of premium content across the company's portfolio of businesses, particularly with respect to the CBS Television Network, which outperformed its media peers in 2010," the filing said.
Moonves also saw the value of his stock and options awards rise slightly, according to the filing.
CBS chairman and controlling shareholder Sumner Redstone saw his 2010 compensation package rise f25.3% from $16.2 million to $20.3 million, with his salary up from $1 million to $1.6 million and his bonus up from $7.5 million to $10 million.
At Viacom, the other company he controls, Redstone received compensation for a shortened nine-months fiscal year that ended in September valued at $15 million, slightly below the $16.9 million he had received for the full year 2009.
Other CEOs of big media and entertainment companies have also seen higher compensation for 2010.
Leading the pack, CBS Corp. corporate sibling Viacom recently reported a $84.5 million compensation package for president and CEO Philippe Dauman for its latest fiscal year, which lasted only nine months and ended in September.