CBS' Leslie Moonves Salary Falls to $57.2 Million in 2014
That is down from $66 million a year prior; Sumner Redstone’s compensation drops from $57 million to $10.8 million.
CBS president-CEO Leslie Moonves received compensation of $57.2 million during 2014, according to the CBS Inc. proxy statement made public on Friday.
That was down from the $66 million that Moonves received last year for 2013.
Moonves has been with CBS since 1995 and has headed CBS Inc. since it split from Viacom in 2005. For most of that time, Moonves has overseen the highest rated broadcast network and one of the most profitable media companies.
In addition to his base salary of $3.5 million, Moonves was awarded a cash bonus of $18 million, according to the proxy, and a special cash payment of $7 million "for his contributions to the creative success across the company's portfolio of businesses."
In addition to the CBS broadcast network, the company portfolio includes Showtime (pay TV); CBS Films; a sports cable network; and, as of last year, half ownership of the Pop cable network (formerly the TV Guide network).
In addition to the cash bonuses, Moonves was granted Class B common stock valued at $3 million, which will be reported in the 2016 proxy.
Besides Moonves, the proxy showed that 91-year-old chairman Sumner Redstone received $10.8 million, a significant drop from the $57 million he received last year. Redstone also is chairman of Viacom and National Amusements, both of which compensate him.
Joseph Ianniello, COO of CBS, saw his compensation rise to $27 million from $24 million in the prior year.